Copper has had a turbulent third quarter, with prices heating up during July only to fall dramatically by September. Copper production also struggled, as both US and Chinese manufacturers reported lower-than-projected numbers.
With no end in view for US-China trade talks, analysts are forecasting that copper prices will remain shaky as the two powerhouses face off — particularly in light of additional factors, such as lower output of the red metal and protests at various mines.
Longer term, however, many analysts are calling for copper to increase in value as decarbonization comes into full effect and raises demand; this is expected to materialize in about three to five years.
With Q4 already in motion, the Investing News Network (INN) caught up with analysts, economists and experts alike to find out what’s ahead for copper supply, demand and prices. Here’s what they said.
Copper price update: Price in review
Copper has started high and ended low these past few quarters, and Q3 was no exception. Copper hit its top point for the period in mid-July, when it reached US$6,065 per tonne on July 19. However, it began to drop dramatically in the following weeks, dipping below the US$5,800 mark by August 2 — a 4.9 percent decrease in two weeks.