China eases - commodities like copper benefit
The easing of strict corona regulations in China is causing a recovery on the industrial metals markets.
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Even though different rules apply in each city in China, the trend seems clear. The Omicron variant is less dangerous and a new phase in the pandemic in China can be initiated. Many stores in Beijing are allowed to reopen and the areas where a negative PVR test is needed are becoming fewer. In addition, there are aid measures for the real estate sector, with financing in particular to be facilitated, because the demand for houses is weakening. Iron ore has already seen a significant increase in price. The price of copper has also gone up. Although the big openings that should provide a significant economic upswing are still missing, the way there seems to be clear. The economic metal par excellence is copper.
Most copper is produced in Chile. The production volume is still below the level of 2021 due to problems at some large mines. Some experts forecast a supply surplus for 2023, such as analysts from the International Copper Study Group. A possible supply surplus is offset by rising demand for copper. This will continue to rise due to a growing world population, production innovations and economic development. This is because copper is used in automobiles, household appliances, in the electronics industry (cables and wires) and in the construction industry. Incidentally, the human body also requires about one milligram of copper daily.
Copper Mountain Mining - https://www.youtube.com/watch?v=PFbOw_s00ao -, for example, takes care of copper. The company owns 75 percent of the producing Copper Mountain Mine in British Columbia. Its average production of copper equivalent is expected to increase to around 140 million pounds per year.
British Columbia is home to Kutcho Copper - https://www.youtube.com/watch?v=Rm7Z4Xa4UCw - with its Kutcho project. The project, which covers almost 17,000 hectares, contains copper and zinc.
Current corporate information and press releases from Copper Mountain Mining (https://www.resource-capital.ch/en/companies/copper-mountain-mining-corp/ ) and Kutcho Copper (https://www.resource-capital.ch/en/companies/kutcho-copper-corp/ ).
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