When the folks at 6ix asked me to moderate this panel on copper, I asked them if they were aware that I've been telling my readers that I'm not buying any copper or any other industrial metals plays until we see how bad the recession is. After all, the red metal is called Dr. Copper because it supposedly has a Ph.D. in economics--meaning, its price is a proxy for economic activity. They said that my independent view was exactly why they wanted me asking the questions, so I agreed.
My first question, of course, was on who and why anyone should expect copper prices to hold up in the face of recession—even with China's reopening. I also asked what happens if EV adoption doesn't turn out as widely expected, how to price for political risk, and if the demand for copper in the years to come will finally turn any of the old copper land banks into mines. Since we were talking about copper and not their companies, I didn't ask them about their projects (though they each gave an "elevator pitch" at the beginning, which you can skip by starting at about 10 minutes into the recording ; - ). But I was rude enough to ask them all if they had enough money to keep going if recession does make copper prices go into reverse over the next year or two. Only one did—can you guess which?
Fun and games aside, these guys are all knowledgeable about the space, and I did find value in some of their insights. I hope you do as well.
