(Kitco News) – The world could be on the cusp of a commodity war as nations worldwide continue to grapple with growing demand and falling supply of important base metals and critical minerals.
In a recent interview with Kitco News, Robert Minter, Director of ETF Investment Strategy at abrdn, said that investors need to hold some gold as a core asset in their portfolios; however, he added that now is also the time to load up on other commodities, particularly base metals.
Although base metals like copper have been struggling in recent months as global recession fears grow, Minter said that fundamental shifts are occurring within the global economy that will provide long-term support for industrial metals like copper, zinc, and nickel.
Minter said that broken supply chains are forcing many governments to develop their own supply chain of critical metals and minerals. However, as commodities become nationalized, many are starting to worry that there isn’t enough supply to meet growing demand needs. He added that this could lead to a commodity war as nations chase down dwindling supplies.
For the rest of this article: https://www.kitco.com/news/2022-06-22/A-commodity-war-is-brewing-there-is-not-enough-copper-to-meet-growing-demand-Abrdn-s-Minter.html