How to Invest in Copper Stocks
Copper is one of the most versatile metals. It runs through our homes as part of both our plumbing and electrical systems. It's a key component in our cars, which contain an average of 44 pounds apiece, including nearly one mile of copper wire. The metal is also an important building product, part of our money supply (it coats the penny), and essential for telecommunications.
Given its versatility and importance for so many industries, the global economy uses an increasing amount of it. In 2018, worldwide copper consumption hit 23.6 million tons a year and should reach 29.8 million tons by 2027. While recycling old copper helps meet about 45% of global demand, rising consumption requires continued development of new copper resources.
That rising demand has the potential to boost the price of copper in the future, which could drive up the stock prices of companies that mine the metal. That makes it an intriguing industry for investors to get to know. With that in mind, let's take a look at how to invest in copper stocks.
Source Fool.com
