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The supply and demand of copper will be equal in 20 years

The supply and demand of copper will be equal in 20 years

British research company BMI Research has made predictions for the near future. They concern the world market of copper. In the next few years there will be a deficit. This is due to the fact that actively growing consumption of the metal. The volume of production is limited. But in 20 years the situation will change. First of all, will increase copper prices. This leads to the fact that will start new businesses. Thus, the production volumes will increase. In the end, the market will be given in a balanced state.

The deficit in refined copper could reach 251 thousand tons. This result is expected by the end of this year. Demand will exceed supply until 2023. 2024 results will be compared. The increase in demand associated with alternative energy. Now mass produced electric cars. On one such vehicle is an average of 80 kg. For cars with internal combustion engines is 20 kg. Because consumption will continue to grow.

Production volume of copper in 2027 will amount to 29.9 million tons. About it reports BMI Research. In comparison with the figure in 2018 is by 27.8% more. For the current year it stands at 23.4 million tons. Most will increase production of refined copper in India. For the current year will amount to 925 thousand tons. In 2027 he will reach 1.8 million tons.

One of the largest producers of copper in concentrate is D. R. Congo. It will begin to ramp up production at an accelerated pace. Thus, by 2027 it will produce around 1.9 million tons. For the current year the figure is 1 million tons. Her example will be followed by Peru. For 10 years the production volume will increase to 3.8 million tons. In China, on the contrary, such growth is not expected. Growth will fall to 2.2% per year. The same applies to the United States. There is a deceleration of 1.5%.

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