Business & Strategy

Simon Hunt sets out the three mechanisms that raise the floor under commodity prices in a multipolar world, and why the cycle will still bite before the 2028-32 surge.

A structural copper deficit exists because global demand for the metal is growing faster than mines can expand supply. Unlike a short-term shortage caused by a strike or a stockpile drawdown, a structural deficit is built into the market over years: demand from electrification, power grids, and new industrial capacity…

Simon Hunt's outlook to 2032: the Benner Cycle peak in 2026, a relief rally, recession, then an inflationary surge from 2028 to 2032 that looks like 1978 to 1982.

Simon Hunt on how the move from a dollar-centred world to a multipolar one is reshaping where commodity demand sits, how trade is settled and what it means for copper.