Perhaps there will be another high in the copper price this year similar to the one we saw about a year ago.
The copper price is currently around 8,500 US dollars per ton. A year ago, for example, there was an all-time high of more than 10,500 US dollars per ton of copper. An important factor is the recovery in demand from China, the world's largest copper consumer. In 2023, Chinese demand has been weaker than analysts expected. At the same time, the global macroeconomic outlook in the first quarter of 2023 is still not the best. Used the reddish metal in power grids, building construction or electronic products. Now the demand for copper seems to increase. Optimism seems to prevail for the rest of the year.
This is the view of the Chinese research institute Antaike, for example. The institute forecasts a 2.7 percent increase in demand this year compared with the previous year. The CRU Group also expects demand to be 2.8 percent higher. It said the pandemic policy change will result in higher demand in the medium to long term. However, a possible recession is seen as a threat to the copper price. On the other hand, the energy transition is likely to ensure copper demand, because batteries, electric motors, charging infrastructure, cabling and power lines need copper.
In mining, copper and gold are often combined in one project. This is actually not a bad thing for investors, because gold and gold shares are a must for investment. And if you want to bet on the green revolution, you can't get around copper.
For example, Torq Resources - https://www.commodity-tv.com/ondemand/companies/profil/torq-resources-inc/ - owns copper and gold in Chile, according to the Santa Cecilia gold-copper project.
A more recently listed company, U.S. GoldMining - https://www.commodity-tv.com/ondemand/companies/profil/us-goldmining-inc/ -, but no less noteworthy, is currently exploring its Whistler project (gold and copper) in Alaska.
Current corporate information and press releases from U.S. GoldMining (- https://www.resource-capital.ch/en/companies/us-goldmining-inc/ -) and from Torq Resources (- https://www.resource-capital.ch/en/companies/torq-resources-inc/ -).
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