Copper price will go up
China's latest figures are encouraging. The trade figures published by the Chinese customs authority were anything but weak. Exports are up more than 60 percent in January and February, and there's a good 22 percent increase in imports, all compared to last year. If you don't take this lockdown period as a comparison, but rather the numbers from 2019, they are still strong numbers. In the case of copper, China still imported around 12 percent more unprocessed material in the first two months of this year than in 2019.
China's high import figures show the enormous demand of an economy that has left the pandemic behind. Even though the copper price has currently lost some of its value, experts believe that copper prices will trend upward again. This is because there are continuing supply bottlenecks. Strong growth in demand is also expected in all copper end-user sectors. Copper experts at the major bank UBS, for example, expect demand for copper to grow by 4.7 percent in the current year. Demand should be particularly strong from Latin America and the Middle East, as well as from Europe and North America. At the same time, supply will increase by only an estimated 1.9 percent in 2021. Global copper inventories will decline by almost one million tons in the near future.
Therefore, UBS industry experts forecast a copper price of up to 11,000 US dollars per ton of copper, i.e. significantly more than now. Therefore, companies with copper in the ground, such as Aztec Minerals or GoldMining, should not be lost sight of.
Aztec Minerals - https://www.youtube.com/watch?v=KPYdmh9mod8 - is focused on large polymetallic mineral deposits in the United States. The company is advancing the Tombstone project in Arizona under a joint venture agreement and owns the Cervantes porphyry gold-copper property in Mexico.
GoldMining owns large gold and copper projects in North and South America, for example, three projects in Colombia that score gold and copper, for a total of 15 projects.
Latest corporate information and press releases from GoldMining (https://www.resource-capital.ch/en/companies/goldmining-inc/).
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