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Bloomberg Talks
Jeff Currie Talks Commodities
May 14, 2024
Jeff Currie, Carlyle's Chief Strategy Officer of Energy Pathways, shares insights on why copper is the highest conviction trade he's seen, discussing the demand for copper in technological advancements and challenges in its supply. He also delves into the current business cycle and shifts in commodities demand, analyzing factors like military spending and AI data centers impacting prices and potential demand destruction.
06:36
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Quick takeaways
- Investors see copper as a top trade due to diversified demand beyond China.
- Limited global supply of copper poses long-term challenges for meeting rising demand.
Deep dives
Rising Copper Demand and Investor Confidence
Investors are displaying increased confidence in copper as a lucrative investment, recognizing that copper demand can thrive even amidst a weak property market. The surge in copper prices is attributed to investors realizing that China is not the sole driver of copper demand. Moreover, the government's investment in green infrastructure projects further boosts the appeal of copper as a valuable asset, indicating a significant shift in investor behavior compared to previous instances of market volatility.
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