https://www.mining.com/copper-price-surges-toward-10000-as-bulls-bet-on-china-growth/

WATCH: BlackRock says boom could last decades as copper price tops $10,000

MINING.COM Staff Writer | January 12, 2022 | 6:32 am Markets News Australia Canada China USA Cobalt Copper Lithium Nickel

The copper price rose on Wednesday as worries eased about economic growth in top metals consumer China and positive sentiment swept the commodity sector.

“Copper is such a strategic metal” and it “without a doubt” faces supply challenges in the coming years, Barrick Gold CEO Mark Bristow said on a panel in Saudi Arabia:

“There’s been too little investment in the red metal and that’s already a problem for the sector as consumption rises. We’re in for a long solid market demand for metals.”

“The focus in China is moving away from worries about the property sector slowdown to increased signs that they are going to provide stimulus and support to the economy, some of which will benefit industrial metals,” said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen.