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The best speech from LME’s Copper Week

That was Neil Shearing, chief economist of Capital Economics, who on Monday warned us all that prices for copper were dropping and 2022 demand weakness in China would cause an extended price plateau. To quote the man, “In the short-term we’re facing demand weakening and prices falling in the copper sector.” And here’s a copper chart:

Ultimately Shearing’s is a commentary on raw materials, so let’s add a little more: You can start with raw idiots, give them an education, then a job and put them in expensive suits, but if they don’t pay attention they’ll remain idiots forever.

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