Copper investing environment
The thing with copper is that the market is betting on prices going down in case of a global economic slowdown or recession. Given that supply is relatively fixed, any change in demand would be very detrimental for prices. In 2009 copper went below $1.5 per pound.
Furthermore, many miners leverage themselves, invest in marginal projects, and consequently, any kind of economic slowdown impacting demand makes things very ugly for the whole sector. So, oversupply leads to low prices, but given the volatility of the sector, supply gaps lead to extreme price