42 days ago • Posted by William Ramstein
Divergence over the future of copper supply introduces uncertainty over price targets
The ICSG predicts consumption of the metal will be little changed this year while mine supplies rise. The group estimates that the global refined copper surplus will reach 110,000 tons in 2022 from about 80,000 tons in 2021. That compares with a 2020 deficit of about 600,000 tons. While GS believes prices will rise, the International Copper Study group said supply will exceed demand hence countering expectations for tightening supplies.