Erik Anderson 12 January 2026 Copper’s Rally Isn’t About EVs: It’s About Scarcity, Optionality, and Mispriced Time Copper is dominating the headlines recently with sharp price rises since the beginning of Q4. Now sitting over USD$13,000/t, back in November a colleague of mine predicted it would reach $15,000/t by the end of Q1 and we’re not even in the second half of Jan.   Predictably the explanations have followed the same well-worn path: electrification, EV penetration, re