 Home > Chemicals Industry > International Chemical > By 2022, global copper demand is expected to increase by 3.8% to 25 million tons

By 2022, global copper demand is expected to increase by 3.8% to 25 million tons

 Last Update: 2023-01-03
 Source: Internet
 Author: User

Tags

new energy source

3 4 methylenedioxymethamphetamine

Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

According to Capitalight Research's latest monthly newsletter, LME spot copper prices are expected to be $4.
20 per pound in 2021 and $3.
96 per pound in 2022
, after setting a new record of $4.
88 per pound on May 10.

The Toronto-based research team noted that "copper price trends must remain well above long-term incentive levels (i.
e.
, around $3.
50 per pound) to justify new mine development
.
" ”

Global copper demand will grow by 3.
8% to about 25 million tonnes
in 2022, the report said.
While the supply of red metals in the coming years will be supported by new copper mines, such as Kamoa-Kakula in the Democratic Republic of Congo, Mina Justa in Peru and Timok in Serbia, as well as new projects under development such as Teck Resources' Quebrada Blanca Phase 2, it expects "the current wave of mine expansion to peak in 2024 and a mine supply demand gap is expected to appear in the second half of 2025.
"
。 ”

"Demand for copper from renewable energy projects, energy storage and electric vehicles could double to 8.
5 million tonnes by 2025," the report said, noting that "China's macroeconomic developments, as well as increased demand related to global decarbonization, will drive increased
demand for copper products.
" ”

The Toronto-based research team noted that "copper price trends must remain well above long-term incentive levels (i.
e.
, around $3.
50 per pound) to justify new mine development
.
" ”

This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

Related Products

Avobenzone CAS 70356-09-1

CAS No.: 70356-09-1

Pharmaceutical Grade

$100/KG EXW

Bis(2,6-difluoro-3-(1-hydropyrro-1-yl)-phenyl)titanocene 784

CAS No.: 125051-32-3

top

$3.46/KG EXW

hindered amine light stabilizer UV-292

CAS No.: 41556-26-7

$6-7/MT FOB

Hot Tags

united states jobs(223)

jobs united states(236)

1 year treasury(277)

1 year subscription(296)

single use technology(195)

announcements today(81)

ups united states(221)

united states logo(227)

80 20 company(94)

healthy food name(42)

Hot Articles

The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.