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Base Metals Fall But Copper Prices Should Hold Up, BMI Says -- Market Talk
BHP Group Ltd: Global copper demand is expected to increase by an average of 1 million tons per year by 2035.
BHP Group Ltd released a report stating that, benefiting from the widespread adoption of copper-intensive technologies, global copper consumption is expected to increase by an average of 1 million tons per year by the year 20235, double the average annual increase of the past 15 years; At the same time, the growth of copper mine output will be constrained by high costs and declining ore grades.
Copper prices surpassed the $10,000 mark, with producers warning of supply shortages in the next decade.
Analysts believe that even if the price of copper rises, it may not be enough to attract sufficient investment. This is because the development cycle of new mines is usually long, sometimes even exceeding ten years.
China stimulates the global csi commodity equity index: London copper 'breaks ten thousand', iron ore 'breaks one hundred'!
In recent trading days, with the multiple measures of China's monetary and fiscal stimulus policies, not only has it driven the A-share market to soar, but it has also helped some global csi commodity equity index, showing a rebound similar to a "dragon wagging its tail"... On Thursday, London copper steadily rose above the $10,000 integer mark, Singapore iron ore futures reclaimed the 100 mark, and spot silver prices reached a 12-year high!
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