Huitong Finance APP News--This article aims to analyze the current situation and future trends of the copper marketcustomarcadecabinet, and the predictions of copper prices by renowned hedge fund manager Pierre Andurand. Through in-depth research on market supply and demand dynamics, this report will provide insights into copper price trends and explore related investment opportunities.
Andurand's copper market forecast:
Andurand's recent forecasts for the copper market have attracted market attention. He predicts copper prices will soar to US$40,000 per metric ton, compared with current trading prices of about US$10,290 per metric ton. The forecast is based on copper prices that have risen about 21% so far this year and hit a record high of $11,000 a ton last week.
Supply and demand analysis:
Andurand believes that the upward trend in copper prices will continue because supply has difficulty keeping up with the growth in demand. He pointed out that global electrification trends, including demand for electric vehicles, solar panels, wind farms, and military uses and data centers, will drive copper demand to double over the next four years.
Market dynamics:
Recent buying by futures market traders has driven copper and other metals prices higher. Copper prices have risen 30% since early March, reaching an all-time high. The trend has also affected the prices of other industrial metals such as aluminum and zinc, which have risen by 15% to 28% since early April.
Research from the International Energy Forum (IEF):
The IEF research paper points out that in order to meet current trends, copper mining over the next 30 years needs to be 115% more than historical mining to date. This data highlights the potential growth space in the copper market.
Data from the World Bureau of Metal Statistics (WBMS):
According to WBMS data, copper demand in the first 10 months of 2023 increased by 7% year-on-yearcustomarcadecabinet.3%, showing strong market demand.
Demand growth in developing countries:
Almost all of the growth in copper demand comes from developing countries, particularly China, India and Indonesia. India's annual copper consumption is expected to increase nearly four-fold from current levels, while Indonesia's copper consumption is expected to be five times higher than current levels.
Supply and demand dynamics in the copper market suggest that although copper prices may not reach US$40,000 per ton in the short term, their upward trend is obvious.