Continuing our rundown of the best of 2020, let’s take a look back at the year that was for copper.
Like other metals, copper suffered an early-year swoon.
The LME three-month copper price fell to just over $4,600 per metric ton in late March, as nations around the world began to battle the early stages of the coronavirus pandemic.
Since then, copper has bounced back, in large part powered by Chinese demand.
Just before Christmas, the price surged to a 2020 high of $7,914 per metric ton. The price marked its highest since Q1 2013.
Meanwhile, as we look ahead, copper is likely to remain in high demand, with growing application from the renewables sector (including wind and solar). As nations around the world continue to advance green initiatives — albeit of varying degrees of ambition — the demand for copper will certainly be there.
“Sustained growth in copper demand is expected to continue as copper is essential to economic activity and even more so to the modern technological society,” the International Copper Study Group said in its copper market forecast for 2020-2021. “Infrastructure development in major countries such as China and India and the global trend towards cleaner energy will continue to support copper demand.”
Furthermore, the ICSG forecast global apparent usage of refined copper will rise by 1.1% in 2021.
So, without further ado, let’s take a look at the most-viewed copper-centric posts of the year on MetalMiner.
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Best of 2020: top copper posts of the year
- Copper MMI: Uncertain demand after coronavirus outbreak reverses copper price gains
- Copper price rises to over two-year high — is the surge fizz or substance?
- Copper MMI: Will the copper price continue in its V-shaped recovery?
- Copper MMI: Copper price rally continues, rises to pre-coronavirus levels
- Copper MMI: Copper price reaches 28-month high
- Copper buyers call force majeure amid China’s efforts to control coronavirus outbreak
- Supply-side worries are supporting the zinc, lead and copper prices
- This Morning in Metals: Copper prices slide amid coronavirus fears
- Copper MMI: Uncertain demand continues to moderate copper price gains
- Copper MMI: Copper prices pick up, aided by strong Chinese demand, supply fears
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