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LONDON TO A BRICK
The supercycle has been postponed
Red lights are flashing in the base metals space with copper prices down 20% since March, aluminium down 30%, nickel crashing almost 50%, and silver losing five bucks in the last three months.
Miners face a double whammy of rising costs and depressed demand. In the coming year margins will take a hit unlike in 2021 when price inflation shielded miners from damage to free cash flow, allowing...
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