Copper price shows resilience
(PresseBox) - Copper is known as a cyclical metal. The weakening economic trend has only moderately depressed the price.
In contrast to copper, many industrial metals had to record more significant corrections. Many construction sites lay idle in China in 2022. Now, the main focus is on completing buildings already under construction. And this is the phase when copper is needed for electrical engineering. Completion of buildings in the first seven months of 2023 has increased by around 20 percent year-on-year, after all. In the wake of the energy transition, the area that is seeing rising and strong copper demand is electromobility and the renewable energy sector.
The expansion of wind and solar energy is progressing enormously fast in China. For example, more capacity has already been created in the first half of 2023 than in the whole of 2022, with 2022 being a record year. China s copper demand, which is almost half of global demand, has already gone up by eleven percent this year.
China s copper demand is thus at a record high level thanks to the automotive and infrastructure sectors. Globally, copper demand should therefore increase as a result of the energy turnaround. Increasing copper production, on the other hand, is not easy. This is because low copper prices prevent investment and copper projects are often located in politically uncertain areas.
Added to this are the high financing costs. If copper demand really doubles in the coming years, companies with copper in the ground like Aurania Resources or Torq Resources should be on the sunny side. Both have copper and gold in their projects.
Torq Resources - https://www.commodity-tv.com/ondemand/companies/profil/torq-resources-inc/ - has prospective holdings in Chile.
Aurania Resources - https://www.commodity-tv.com/ondemand/companies/profil/aurania-resources-ltd/ - owns The Lost Cities-Cutucu flagship project in Ecuador, among others.
Current corporate information and press releases from Torq Resources (- https://www.resource-capital.ch/en/companies/torq-resources-inc/ -) and Aurania Resources (- https://www.resource-capital.ch/en/companies/aurania-resources-ltd/ -).
In accordance with ?34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
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Unternehmensinformation / Kurzprofil:
Datum: 16.10.2023 - 01:12 Uhr
Sprache: Deutsch
News-ID 692810
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