IMPORTANT POINTS:
- A metal has experienced supply disruptions and demand continues to grow, so the price would skyrocket.
- Research from Fitch Solutions has established that the price of copper will increase for these reasons and the transition to renewable or green energy.
- Goldman Sachs also assures that the price will rise due to the current deficit, which will worsen in the coming years.
He copperone of the most used metals in the world, could be fired more than 75% in the next two years due to the large supply and demand deficit that exists.
In parallel, the transition to green energy it would further increase the price of the red metalin addition to the fall of the US dollar predicted by experts, concludes a report by Fitch Solutions.
By 2030, more than 60 countries are expected to support such a plan triple the world’s renewable energy capacity, which will significantly benefit copper.
As a result, Citibank believes that copper demand will grow by 4.2 million tons and raise the price to around $15,000 per tonwell above the record of $10,730 per tonne, reached in March 2023.
Demand increases, supply decreases, and the red metal benefits
Demand will no doubt increase more and more, as copper is used to produce batteries for electric cars, as well as grids and wind turbines.
That’s why Goldman Sachs predicts a deficit of more than half a million tons in 2024 ea price at 10,000 dollars per ton.
“We are confident that copper will appreciate substantially in 2025. This will require the ton to reach $15,000“, they added.
2024-01-04 18:42:51
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