On 4/1/21 6:28 AM, N4ZR wrote:
Just as an aside, I was once (too long ago) State Department desk
officer for Zambia, during a major slump in copper prices, and saw
first-hand the devastating effects on everyone when a country depends
on one commodity. I'm pretty confident that most of the current high
price simply reflects scarcity (and probably also supply disruptions
due to COVID). One can hope...
73, Pete N4ZR
Copper is a classic cyclical commodity - prices go up, mines reopen,
production increases, prices go down, mines close, etc. Typically it
varies about 50% over a sequence of years (on top of the generally
rising slope of a percent a year, etc.).
The last year has been a significant increase ($4/lb on spot market vs
usual $2-3)
http://www.kitcometals.com/charts/copper_historical_large.html
https://www.macrotrends.net/1476/copper-prices-historical-chart-data
(this one has a log scale on price, so be aware)
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