Prices have risen over 10% this year as disruptions at major mines threaten refined metal production at the Chinese plants that account for more than half the world’s supply. The Federal Reserve’s expected pivot this year to easier monetary policy is also brightening the outlook for the global economy. Still, China is grappling with a prolonged property crisis and sagging consumer confidence. The country’s smelters, which produce more than half the world’s refined copper, are considering output cuts after processing fees fell near zero. “Copper’s second secular bull market this century is being driven by booming decarbonisation-related demand growth,” the Citi analysts wrote in a note. “Only higher prices will solve these deficits.” During copper’s bull market of the 2000s, prices rose more than five-fold in three years, driven by urbanization and industrialization in China
Prices have risen over 10% this year as disruptions at major mines threaten refined metal production at the Chinese plants that account for more than half the world’s supply. The Federal Reserve ’s expected pivot this year to easier monetary policy is also brightening the outlook for the global economy .
“Copper’s second secular bull market this century is being driven by booming decarbonisation-related demand growth,” the Citi analysts wrote in a note. “Only higher prices will solve these deficits.”
Copper Prices Disruptions Chinese Mines Global Supply Federal Reserve Monetary Policy Global Economy Property Crisis Consumer Confidence Smelters Output Cuts Processing Fees Decarbonisation Demand Growth Bull Market Urbanization Industrialization
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