China orders more copper again
(PresseBox) - The latest trade data from China are positive. Copper imports reached the highest level since March.
According to official data, China s goods imports in November were about 24 percent higher than last year and higher than expected compared with October. Imports of copper concentrate even reached a record high. This suggests that the economy is strong again. The International Copper Study Group forecasts a foreseeable deficit in the copper market over the next five to ten years. Since several new copper mines will soon come on stream, there could be a temporary copper supply surplus in the short-term next year. In contrast, there are large copper mines that expect production to decline over the next few years, such as Codelco, because ore reserves will be depleted. Since new mines take many years to reach production maturity and there is always the threat of labor strikes, the copper price should have a strong future.
At the same time, electromobility and green energies are demanding more and more copper for production. This is because there is also an enormous demand for power lines, for example to install new wind farms. And countries like India have a very fast-growing market for renewable energies. China is also pursuing the goal of reducing its dependence on coal-fired power generation and also has an ambitious renewable energy policy. Copper should therefore be in good demand in the coming years, so that prices can be expected to be strong.
Aurania Resources - https://www.youtube.com/watch?v=SlEnS-o2wEw - is on the move in South America in terms of precious metals and copper. Copper targets are currently being refined at The Lost Cities project. The company is working closely with various government agencies.
Torq Resources - https://www.youtube.com/watch?v=zIF_oyxVLXI - is also focused on gold and copper, in Chile. It has just acquired an option on another gold-copper project in Chile.
Current corporate information and press releases from Aurania Resources (- https://www.resource-capital.ch/en/companies/aurania-resources-ltd/ -) and Torq Resources (- https://www.resource-capital.ch/en/companies/torq-resources-inc/ -).
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Datum: 13.12.2021 - 02:47 Uhr
Sprache: Deutsch
News-ID 652107
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