Important points:
- The metal is experiencing supply disruptions and demand continues to rise, so prices will skyrocket.
- Research by Fitch Solutions has determined that the price of copper will rise for these reasons and because of the transition to renewable or green energy.
- Goldman Sachs also asserts that the current deficit will cause prices to rise, deepening in the coming years.
He copperOne of the most used metals in the world, can be extracted More than 75% A huge demand and supply deficit that exists over the next two years.
In parallel, transition to green energy The price of the red metal will also increase furtherFurther declines in the US dollar, experts predict, concluded a report by Fitch Solutions.
By 2030, more than 60 countries are expected to support the plan Triple The world’s renewable energy potential, something that will significantly favor copper.
As a result of this, Citibank believes that copper demand will increase by 4.2 million tonnes and the price will increase by about 4.2 million tonnes. 15,000 USD per tonThat is well above the record of USD 10,730 per tonne reached in March 2023.
Demand increases, supply decreases and the red metal benefits
Demand will undoubtedly increase further, as copper is used to make electric car batteries as well as grids and wind turbines.
That’s why Goldman Sachs expects a deficit of over half a million tonnes in 2024 and 10,000 USD per tonne price.
“We believe that copper will increase significantly in 2025. It will take a ton to reach $15,000“, they added.
