Copper topped $8,000 a ton for the first time in more than seven years, with Goldman Sachs Group Inc. and BlackRock Inc. pointing to the start of a new long-term bull market as supply lags an expected demand boom.The market is witnessing the sharpest rally in more than a decade, with China’s appetite for commodities and supply snags early on in the Covid-19 pandemic lifting copper about 80% from its March lows.Expectations for a deficit, the weaker dollar, and its role in green technology have also fueled gains.
Some banks and investors are now drawing comparisons to the spike in the early 2000s, when a jump in Chinese orders ushered in the last super-cycle for commodities.“You have all the tell-tale signs of a super-cycle," Jeff Currie,.