According to Mining News Pro -The analytical report of the copper industry in 2018 and the 10-year forecast for 2027 from the Nineteenth Report on Basic Metals Analysis, by the BisReport Group International Research Group, affiliated with the Economic Process Group, includes the latest forecast of prices, demand, supply, production, ... Released.
According to the report, with regard to improved prices, the production of refined copper in the world will increase over the next decade. Global production is projected to increase from 23.4 million tons in 2018 to 29.9 million tons by 2027, which represents an average annual growth of 2.7 percent, and has not changed significantly compared with the average annual growth rate of 2.5 percent over the past ten years.
Meanwhile, refined copper consumption in the world will grow steadily over the coming years, due to a number of factors, including increased demand from the electrical industry, increased production of electric vehicles, and a favorable outlook for world economic growth. World demand for copper is projected to increase from 23.6 million tons in 2018 to 29.8 million tons by 2027, an increase in demand of 2.6 percent per annum over the same period.
BisReport also looked at the price of copper over the next ten years, and with the involvement of various market-influencing factors on price predictions, experts have come up with a favorable outlook on price increases and improvements to current cash prices over the remainder of the current year. . Of course, the intensification of trade disputes between the United States and China will undermine the prediction of prices.
As well as analyzing the copper industry in the field of other global metals such as gold, steel, iron ore, zinc, aluminum, tin, lead and nickel, Bastirup also publishes quarterly analytical reports.