Copper could skyrocket over 75% to record highs by 2025 — brace for deficits, analysts say
Publishing timestamp: 2024-01-02 19:49:16
Summary
Copper prices are expected to soar over the next two years due to mining supply disruptions and increased demand driven by the green energy transition. The decline in the U.S. dollar and potential rate cuts by the U.S. Federal Reserve are also expected to support higher copper prices. Analysts predict that copper prices could reach $15,000 per ton by 2025, driven by the push for renewable energy and increased investment in the sector. Chile and Peru are expected to be the main beneficiaries of the copper rush. However, there may be a shortage of copper concentrates for new smelters coming online, leading to supply constraints.
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Keywords: alternative and sustainable energy, metal commodities, goldman sachs group inc, commodity markets, business news, united states, energy industry, environment,