Copper set for a comeback in 2025 according to analysts
With prices rebounding in recent weeks and two of the world’s largest miners declaring plans to ramp up production, analysts are tipping 2025 to be a big year for copper.
Copper futures traded around US$4.14 per pound overnight, hovering close to three-week highs after a brief rally earlier in the week.
The new report said global demand for copper has been growing steadily, with a 300% increase in the use of refined copper across various industries over the last five decades to about 26.5Mt in 2023.
Copper’s role in construction, manufacturing and infrastructure development makes it a critical component of progress.
The construction of commercial and residential buildings, bridges and the like all demand extensive utilisation of copper in diverse forms and applications.
Continued rapid growth in the electrical, electronics and telecommunications sectors owing to technological developments has further propelled the demand for copper.
According to the World Economic Forum, Australia produces 4% of the international copper supply and is the sixth largest producer in the world, with copper weighing more than 0.9 million tonnes – or 17 Sydney Harbour Bridges – produced per year.
CNB Price at posting:
36.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)