The cost of copper could reach $ 10 thousand. per 1 m by 2012, predicts Michael Shilleyker (Michael Shillaker), a metals analyst at the banking group Credit Suisse. For comparison, most recently the price of the «red metal» on the LME stood at $ 7,390 thousand, and yesterday it dropped to $ 7.171 thousand.
According to Michael Shilleykera, the reason for such optimistic forecast is the acceleration of China's economy, which will begin in late 2010 and will continue next year. Therefore, he believes that the expansion of demand from Chinese consumers will be the catalyst for the development of the global mining industry, just as it did in 2001, 20005, 2007, and 2009. Furthermore, in addition to copper consumption growth in China in 2011−2012 gg., it will increase in other regions of the world.