Monday, the price of copper hit an all-time high, reaching past $10,700 a ton.
“Coming off the COVID-19 pandemic, iron production supply is not ramping up as fast as demand is right now,” said Rohan Reddy, a research analyst at Global X.
China’s belt and road initiative, President Joe Biden’s infrastructure proposal, Europe and India’s Connectivity Partnership — they all need basic metals.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market.