错过黄金白银暴涨？别慌，铜正在重演10年前的财富神话

Core Viewpoint - The article suggests that after missing the significant price increases in gold and silver, copper presents a compelling investment opportunity, potentially serving as a "Plan B" for investors [2][14]. Group 1: Market Performance - Gold and silver have seen remarkable price increases this year, with gold rising from $1800 to $4300 and silver from $20 to $53, while copper's performance has been relatively subdued [2][3]. - Historical data shows that during previous commodity supercycles, copper prices have experienced substantial increases, such as a rise from $3000 to nearly $10000 between 2006 and 2008, and from $4500 to $10700 during the pandemic, indicating copper's potential for significant price appreciation [5]. Group 2: Demand and Supply Dynamics - Copper is essential for various industries, including electric vehicles, renewable energy, and AI data centers, with the demand for copper expected to surge due to the ongoing energy transition [9][12]. - The supply of copper is constrained, with the average grade of copper ore from the top ten mines decreasing from 1.2% in 2000 to 0.6% currently, and stricter environmental regulations in major copper-producing countries complicating new mining approvals [13]. Group 3: Investment Strategy - The "gold to copper ratio" has historical significance, with the ratio currently at 5.5, suggesting potential for copper price increases as seen in past trends [12]. - Investors are advised to adopt a cautious approach by gradually entering positions in copper-related investments, such as copper ETFs or stocks of well-known copper mining companies, while being prepared for a longer investment horizon [14].