Charlie Aitken predicts copper prices will reach $15 per pound ahead of commodities supercycle
Regal Funds Management investment director Charlie Aitken claims the setup for mining resources has never been better, citing demand from AI and energy sectors. He identifies US$15 per pound as a realistic target for copper.
Charlie Aitken, the investment director for Regal Funds Management, stated that investors should add exposure to resources before what he describes as a commodities supercycle begins. Speaking at the Resources Rising Stars Conference on the Gold Coast earlier this week, Aitken noted that over 33 years of his career, he has never seen a better environment for mining and energy assets. He argued that a long period where paper assets outperformed physical goods is ending, with low capital expenditure businesses now surpassing capital-intensive ones in performance.
Aitken highlighted several new demand drivers causing a re-rating of mining stocks, including urbanization, population growth, artificial intelligence, hyperscale data center spending, defense budgets, infrastructure needs, electrification, and decarbonization. He emphasized that these factors intersect within the mining and energy sectors.
Regarding specific metals, Aitken identified copper as his top pick for the period. He explicitly stated that a price of US$15 per pound is a realistic proposition, despite noting that supply constraints remain a factor alongside rising demand.
