- There is a disruption in the supply of a metal and the demand continues to increase, so the price will skyrocket.
- Research from Fitch Solutions found that the price of copper will rise due to these factors and the transition to renewable or green energy.
- Goldman Sachs also assures that the price will rise due to the deficit that currently exists, which will deepen in the coming years.
He copperOne of the most commonly used metals in the world, can be burned more than 75% Due to huge demand and supply deficit in the next two years.
In parallel, the transition to green energy This will increase the price of red metal even moreA report by Fitch Solutions concluded that the US dollar is further falling apart than experts had anticipated.
By 2030, more than 60 countries are expected to endorse a plan triple The world’s renewable energy capacity is something Copper would be very fond of.
As a result, Citibank believes that demand for copper will increase by 4.2 million tonnes and the price will increase by approximately USD 15,000 per tonReached well above the record of US $ 10,730 per tonne in March 2023.
Demand rises, supply falls and the red metal benefits
Demand will undoubtedly skyrocket even more, as copper is used to make electric car batteries, as well as grids and wind turbines.
This is why Goldman Sachs expects a shortfall of more than half a million tonnes in 2024 Price 10,000 USD per ton,
,We believe the price of copper will increase significantly in 2025. It will take a ton to reach $15,000.“, he adds.