I believe that rising commodity demand will not be met by increase in supply for a long period and we are headed for “Higher for longer” commodity prices.
They are not increasing Capex but giving back the cash
This one from Glencore presentation yesterday on state of copper mining
However, investments in mining exploration are at a 62-year low!
Industry leaders and insiders are raising the alarm on crude oil prices.
Look at the size of demand
and the demand which will come because of US infrastructure bill which most investors are not taking it seriously.
I am quite impressed by the credentials of Infrastructure czar
