Copper Market Deficit by 2025, page-147

Goldman Sachs last week doubled down on its super cycle shout (see Post # 52517447), forecasting copper would average US$15,000 per tonne during 2025 in a headline-grabbing April 13 research note titled “Copper is the new oil”.





The Copper Supercycle
Trafigura, the world’s biggest copper trader, expects copper metal to hit US$15,000 a tonne in the coming decade as demand from global decarbonisation produces a deep market deficit.

Now the commodities giant sees copper metal soaring past record highs above US$10,000 as western economies pull out of the pandemic and the green revolution takes hold, head of Trafigura copper trading Kostas Bintas said in an interview.

The looming green revolution has bolstered the outlook for many industrial metals, prompting some analysts to call the start of a new supercycle in commodities markets. But Trafigura says copper’s tight supply dynamics set it apart from the pack, and underpin the trading house’s bold call on prices.

“I’m not sure about the commodities supercycle, but I’m 100% sure about the copper supercycle,” Bintas said.

Cheers

These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.