Future Demand For Copper. S&p global market intelligence projected in 2022 that annual global copper demand will nearly double from 25 million to roughly 50 million tonnes by 2035. Cochilco expects that the supply deficit in 2021 along with reduced inventories in metal exchanges will provide fundamental price support.
In the most optimistic scenario in its recent future of copper report, s&p global estimates the world will be short 1.6 million tonnes of copper in 2035, with major deficits beginning this decade. Copper as a preferred transition metal
The Study Finds That Global Copper Demand Will Roughly Double By 2035, From The Current 25 Million Metric Tons (Mmt) Today To Nearly 50 Mmt.
4,5 forecasting for future growth, the supply.
The New S&Amp;P Global Study, The Future Of Copper:
A reuters poll of 28 analysts shows a 2024 forecast of us$8,625 for the london metal exchange cash copper contract.
3 Last Year, Global Copper Mine Production Sat At Approximately 22 Million Tonnes, Short Of Even The 25 Million Tonnes Of Demand We Saw In 2021.
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But Could A Looming Mismatch Between Available Copper Supply And Future Copper Demand Present Challenges To The Achievement Of Net Zero Emissions By 2050 Goals?
In fact, electrification is projected to increase annual copper demand to 36.6 million metric tons by 2031.
Copper Prices Have Also Been Supported By Growth In The Construction Sector;
This idea drew industry experts, ica members and partners to ica’s copper demand and sustainability workshop on the eve of london metal exchange (lme) week.