Metal that underpins the renewable energy industry joins silver and gold as a safe haven asset for investors
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Copper, the metal that underpins the fast-growing renewable energy industry, is on course for its biggest annual price rise in more than 15 years as traders react to fears of global shortages.
As one of the main beneficiaries of the “electrification of everything”, copper has soared by more than 35% in value this year, spurred by US tariff uncertainty and concerns about mining disasters that could restrict supply.
Analysts said copper had also joined silver and gold as a safe haven asset for investors wanting to hedge against the falling value of the dollar.
