{"id":468384,"date":"2025-10-02T12:13:20","date_gmt":"2025-10-02T12:13:20","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/468384\/"},"modified":"2025-10-02T12:13:20","modified_gmt":"2025-10-02T12:13:20","slug":"supply-shocks-are-the-wrong-kind-of-bull-market","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/468384\/","title":{"rendered":"Supply shocks are the wrong kind of bull market"},"content":{"rendered":"<p>In commodities, there are two kinds of bull markets: good ones, driven by strong demand, and terrible ones, powered by supply shocks. The former are typically more durable, requiring higher-for-longer prices to encourage investment in new supply; the latter often prove short-lived.<\/p>\n<p><a href=\"https:\/\/www.afr.com\/markets\/commodities\/trump-s-copper-tax-a-boon-for-lucrative-arbitrage-trade-20250709-p5mdmf\" target=\"_blank\" rel=\"noopener\">The copper market has witnessed both kinds<\/a> over the past 25 years, with prices rising to a record high of $US11,104 per metric tonne last year from $US2000 in 2000. Often the factors were so intertwined that it was difficult to discern which was more important. Right now, however, it\u2019s very clear: it\u2019s a supply issue.<\/p>\n<p>Loading&#8230;<\/p>\n<p class=\"_137dbe642694dac0-source\">Bloomberg Opinion<\/p>\n","protected":false},"excerpt":{"rendered":"In commodities, there are two kinds of bull markets: good ones, driven by strong demand, and terrible ones,&hellip;\n","protected":false},"author":2,"featured_media":468385,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3091],"tags":[51,2441,16,15],"class_list":{"0":"post-468384","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-business","9":"tag-markets","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115304517180429962","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/468384","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=468384"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/468384\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/468385"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=468384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=468384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=468384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}