Comeback for oil and copper commodities

December 18, 2020
Martin Gradillas

Martin Gradillas

I graduated from the University of Sonora with a bachelor’s degree in mining engineering, with a strong background in mining software and open pit operations. I work at Promine as an Account Executive, reaching out to clients, giving demos, training and webinars, suggesting new updates and improvements, participating in marketing activities and more. I aspire to be part of the change in perception for the mining industry, since I believe it can work with the environment and society in a sustainable manner. Also, to help innovate in this leading industry. On my free time I enjoy going on a walk or run with my dog, spending time with my family, catching up with friends, read an autobiography or fiction, do environmental community work. “If it can’t be grown, it has to be mined.”

Retaliating from the steepest downturn since the Great Depression, investors are beginning to bull on commodities as the global market starts to escalate. With the groundbreaking news of the covid19 vaccine being applied and more political news becoming clearer, it has opened a path for investors to starttaking risks on commodities again.

Copper and oil have always been strong indicating commodities for the global economy. With the upcoming economical reactivation, we can see in the future a big rise in demand. For oil, an increment in supply will be needed as more people resume driving and flying activities. As to Copper, it has risen 70% above its March low and to its highest in six years, besides its high demands do to the increment in renewables and the high demand from China, as well asother metals.

This forecast is good news for everyone, since everybody was affected either through health or economiissues or even both. We can see a promising future for 2021, with the help of the massive application of the vaccine, we will be able to see the growth of a strong economy.

 

References :

Commodities hit 6-year high with recovery boosting oil, copper. (2020, December 11). Retrieved December 19, 2020,

from https://www.mining.com/web/commodities-hit-6-year-high-with-recovery-boosting-oil-copper/

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