BHP Group Ltd: Global copper demand is expected to increase by an average of 1 million tons per year by 2035.
BHP Group Ltd released a report stating that, benefiting from the widespread adoption of copper-intensive technologies, global copper consumption is expected to increase by an average of 1 million tons per year by the year 20235, double the average annual increase of the past 15 years; At the same time, the growth of copper mine output will be constrained by high costs and declining ore grades.
Copper prices surpassed the $10,000 mark, with producers warning of supply shortages in the next decade.
Analysts believe that even if the price of copper rises, it may not be enough to attract sufficient investment. This is because the development cycle of new mines is usually long, sometimes even exceeding ten years.
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In recent trading days, with the multiple measures of China's monetary and fiscal stimulus policies, not only has it driven the A-share market to soar, but it has also helped some global csi commodity equity index, showing a rebound similar to a "dragon wagging its tail"... On Thursday, London copper steadily rose above the $10,000 integer mark, Singapore iron ore futures reclaimed the 100 mark, and spot silver prices reached a 12-year high!
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Shares of Copper Stocks Are Trading Higher After China Central Bank Announced a New Stimulus Package.
Express News | U.S.-Listings of Rio Tinto, BHP up 4.6% Each
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Global copper shortage warning! Rio Tinto: Need to develop more new mines to solve the supply crisis.
①Copper and other key energy transition metals are facing continuously increasing demand; ②Bao Damin, Chairman of mining giant Rio Tinto, pointed out the need for more mines to be developed globally to address supply gaps; ③Bao Damin believes it is more preferable to overcome this challenge through the growth of the company's own business activities.
After the Fed cut interest rates, copper prices in Asia's early trading rose. The expectation of mild economic slowdown coexists with positive signs from China.
In a report, analysts from ANZ Bank wrote that due to the continued positive sentiment following the interest rate cut by the US Federal Reserve last week, copper prices rose slightly in early Asian trading.
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Shares of Companies in the Broader Industrial Space Are Trading Higher Following the Fed's Announcement to Cut Rates by 50 Basis Points Yesterday, Which Could Support Investment and Economic Growth.