Infrastructure manufacturing exec – I would rather have copper in my warehouse than cash in the bank
| Something I heard recently from a US electrical infrastructure manufacturing exec: "I'd rather have copper in my warehouse than cash in the bank, because based on what I'm seeing in supply chains, I'm concerned that cash may not be able to secure me actual copper at some point." |
Copper is trading around $14,470 per tonne today, which is ~$400 per tonne (~3%) below its all-time high….despite no news on tariffs and the first Fed rate hike in 3 years. Copper is on course for a weekly gain of ~3%. This is because physical buying has STRENGTHENED this past… pic.twitter.com/z3p8fnrWBj
— Robert Friedland (@robert_ivanhoe) September 18, 2026