Copper is a vital element used in nearly everything around you.
It’s used for plumbing in houses and factories. Since copper is also a wonderful conductor of electricity, it is used in power lines, electric motors, wiring, cars, and appliances as well.
This aspect – copper’s excellent electrical conductivity – makes it a critical part of the electric vehicle (EV) revolution.
For example, an electric vehicle requires three times more copper than conventional internal combustion engine vehicles.
On average, a car with an internal combustion engine uses 55 pounds of copper. A hybrid uses about 110 pounds, and an EV uses 165 pounds of copper.
I’m long term bullish on copper, especially companies that produce a specific kind. Which I’ll get to in a moment.