The stock markets had a difficult start to the year due to investors’ concerns over surging inflation, Russia’s invasion of Ukraine, and the possibility of aggressive interest rate hikes by the Federal Reserve. However, metal stocks were an outlier, as they displayed significant strength amid the market correction.
Metal stocks made a solid comeback last year as demand soared amid industrial and economic activity resumption. Copper prices have been hitting all-time highs over concerns of supply disruptions and historic low stockpiles. Copper’s use in electric vehicles and clean energy solutions is expected to keep the metal in high demand, as the need to transition to clean energy is becoming prominent.
