Copper Is the New Oil, Says Goldman’s Currie

The video discusses the strategic importance of copper and iron ore in the context of global decarbonization efforts. Copper is highlighted as the 'new oil' due to its superior electrical conductivity, essential for electrification. The video examines the demand-supply dynamics of iron ore, particularly in China, and the bullish market conditions due to supply cuts. It also analyzes the copper market, drawing parallels to the oil market in the early 2000s, and highlights the lack of investment in future supply. The discussion extends to the global influence of copper, historically known as 'Doctor Copper,' and its shifting economic significance from the US to China and now globally.

What are the key reasons copper is considered the new oil?

How does the level of demand and supply affect commodity prices?

What factors contribute to the bullish dynamic in the iron ore market?

In what ways has the focus of commodity companies shifted in recent years?

How has the role of China in the copper market changed over the years?