Ever since copper was added to the list of commodities with a rosy future thanks to the Electric Vehicle (EV) mania, price expectations on this metal have been off the charts.

When gold fell below $ 1900 in late September, there were clamours in the market that metal’s bull run was finally over. After all, no asset can rise forever regardless of how compelling its narrative is.

If there is an asset class that has a knack for igniting Shakesperean passions, it is definitely commodities. Every time the price cycle breaks above multiyear averages, talk of a supercycle starts raging around the markets with supply doom scenarios adding spice to a hypothetical risk/reward menu.