Copper prices have cooled off considerably from their recent highs, with some analysts suggesting that the red metal's bullish price action drew so many speculators to the market that prices became temporarily untethered from the underlying fundamentals. That said, with copper futures (HGU24) starting to stabilize after a week-plus skid of lower closing prices - and the long-term bullish forecast for copper firmly intact - it's time for investors to start thinking about buying the dip.
And the fundamental case for copper hasn't changed. The global push for renewable energy and electric vehicles (EVs) is projected to double copper demand to 50 million metric tons by 2035, supported by supply constraints and geopolitical tensions.
