Prospects for copper as a raw material
(PresseBox) - Over the past ten years, demand for copper has risen steadily.
Copper is a raw material that is in high demand internationally. Last year, around 25 million tons of copper were in demand worldwide. If we look at copper demand in 2011, this was around five million tons less than in 2021. The Ukraine war will also influence the situation for copper, but probably not as strongly as is the case for other base metals. Inventories are rather low overall. In China in particular, an increase in refinery output could ease the copper shortage. A rather small increase in smelter operating rates is expected for the second quarter of 2022, because closures and maintenance at smelters will probably prevent a significant increase in copper concentrate.
What is driving the copper price up is primarily an economic revival and tight supply. Even if the economy in China were to weaken to a forecast five percent in the current year due to the Corona lockdowns, this would still not be so little at five percent. By comparison, China's economy grew by 8.1 percent in 2021. The Chinese government is also already planning monetary policy measures to help the economy get back on its feet. On the demand side, booming renewable energy generation should provide momentum for copper demand. Wind and solar energy as well as electromobility consume many times more copper than the non-green alternatives. Companies such as Copper Mountain Mining and Hannan Metals should benefit from strong copper demand.
In British Columbia, Copper Mountain Mining has a 75 percent stake in the producing Copper Mountain Mine.
Hannan Metals - https://www.youtube.com/watch?v=yfZ3XroenBs - is eyeing copper, gold and silver in Peru, for example at the San Martin project. In total, the company owns a good 2,000 square kilometers of land in Peru.
Current corporate information and press releases from Hannan Metals (- https://www.resource-capital.ch/en/companies/hannan-metals-ltd/ -) and Copper Mountain Mining (- https://www.resource-capital.ch/en/companies/copper-mountain-mining-corp/ -).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
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Unternehmensinformation / Kurzprofil:
Datum: 09.05.2022 - 08:07 Uhr
Sprache: Deutsch
News-ID 659900
Anzahl Zeichen: 4027
contact information:
Contact person: Jörg Schulte
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