BHP forecasts copper prices to increase to high level from mid-2020s
Time:Tue, 23 Aug 2022 09:39:27 +0800
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The copper prices rebounded to US$8,000/ton last week because China’s copper market was expected to grow.
BHP Group, the world’s leading miner, indicated that from 2024, the new and expanded copper project in Central Africa, Peru, Chile, and Mongolia would sufficiently supply to the market. Also, BHP would increase its production by 4% to 16% in the next 12 months due to increased China’s demand.
Besides, grade decline, insufficient resources, and water shortage made the miner development harder and more complicated. In addition, the high-quality resource may decrease in the future. These factors might make copper prices increase from the middle of the 2020s.
