Energy Markets
Copper demand is soaring due to the expansion of global power grids
The copper demand is growing faster than expected, due to the billions of dollars invested in modernising and expanding power grids worldwide for the digital and renewable energy revolutions which require vast amounts of electricity. A lack of investment into new mines is limiting the supply of major producers, including Chile and Democratic Republic of Congo, which will lead to a long period of high prices. Analysts predict that copper prices will reach record levels above $12,000 per ton by the end of this decade. This is a 23% increase from the current level of $9,700 per ton. Copper's superior...