Copper is the third-most-used metal in the world behind iron ore and aluminum. In 2018, the global economy used 23.6 million tons to build electrical systems, automobiles, machinery, and a whole host of other things.
However, as important as copper has been to the global economy in the past, it's even more vital to the future. That's due not only to the expected continued expansion of the global economy but also to the metal's importance in the renewable energy sector. As a result, forecasters at the McKinsey Global Institute project that copper consumption will surge 43% by 2035.
This outlook suggests that copper-producing companies will be able to expand their output and profitability at a healthy pace in the coming years, so investors will want to consider adding a copper stock to their portfolios. Here's an in-depth look at those companies best positioned to capture the sector's upside potential.
Source Fool.com