Copper is the third most used metal in the world, and demand for this important commodity is rising amid tight supply.
For that reason, market watchers may be asking, “When will copper go up?” The general consensus is that higher copper prices are needed for mining companies to invest in copper production and exploration to match demand.
“We believe significant mine supply response will be required to meet this new area of demand growth and a higher copper price will be needed to incentivize the new production into the market,” said Daniel Greenspan, senior analyst and resource team director at CIBC Asset Management, in an early 2021 interview.
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