At the beginning of the year, the industrial metal was trading at around US$6200/ton and in March, at the peak of the corona crisis, plummeted to just over US$4600/ton. Copper currently costs more than US$ 7000 per ton and is thus at a two-year high.
As a rule, the price of the precious metal can be of the global economy and high prices allow us to draw conclusions about a booming market. In times of Corona and many countries with imminent or broad lockdowns, the current copper chart is surprising. The global economy currently has anything but reason to cheer.
China can be identified as the reason for the current unusual development. The country has almost overcome the Corona crisis and the local economy has recovered quickly recovered from the lockdowns of the past months. With investments in the national infrastructure, the government in China is making every effort to improve the current to further promote growth. As a result, the demand for copper is continuing to rise in many sectors. In addition, a worldwide decline in mine production is causing a shortage in the market.
A significant calming of the precious metals sector is not expected in the coming months. Therefore, talk to your customer advisor now about your current requirements and projects and secure the best possible purchasing conditions.