Copper set for a comeback in 2025 according to analysts

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Copper set for a comeback in 2025 according to analysts

Small Caps12-06

With prices rebounding in recent weeks and two of the world’s biggest miners declaring plans to ramp up production, analysts are tipping 2025 to be a big year for copper. Copper futures traded around ...

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GMT+8&nbsp;&nbsp;&nbsp;<a href=https://smallcaps.com.au/copper-set-comeback-2025-according-analysts/><strong>Small Caps</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>With prices rebounding in recent weeks and two of the world’s biggest miners declaring plans to ramp up production, analysts are tipping 2025 to be a big year for copper.\nCopper futures traded around ...</p>\n\n<a href=\"https://smallcaps.com.au/copper-set-comeback-2025-according-analysts/\">Source 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Economics, the price surge was driven by speculation that Beijing may announce additional stimulus measures during key political meetings this month.Recent data showed that Chinese manufacturing activity expanded for the second consecutive month in November, strengthening the demand outlook for copper.BHP Group  and Rio Tinto  have both declared their support for the base metal, recently announcing plans to ramp up copper production.The new report said global demand for copper has been growing steadily, with a 300% increase in the use of refined copper across various industries over the last five decades to about 26.5Mt in 2023.According to the World Economic Forum, A","collect":0,"end_time":0,"defaultTopTitle":"smallcaps.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7511":"ESG概念","BK7095":"多种金属与采矿","BK7507":"资源股","RIO.AU":"力拓","BHP.AU":"BHP GROUP LTD"},"translate_title":"分析师称铜价将于2025年卷土重来","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BHP.AU":1,"RIO.AU":1},"content_text":"With prices rebounding in recent weeks and two of the world’s biggest miners declaring plans to ramp up production, analysts are tipping 2025 to be a big year for copper.\nCopper futures traded around US$4.14 per pound overnight, hovering close to three-week highs after a brief rally earlier in the week.\nAccording to Trading Economics, the price surge was driven by speculation that Beijing may announce additional stimulus measures during key political meetings this month.\nRecent data showed that Chinese manufacturing activity expanded for the second consecutive month in November, strengthening the demand outlook for copper.\nMajors bullish\nBHP Group (ASX: BHP) and Rio Tinto (ASX: RIO) have both declared their support for the base metal, recently announcing plans to ramp up copper production.\nWhen releasing its FY24 results, BHP stated it had grown its overall copper volumes by 9% for the second consecutive year and expected to deliver a further 4% in FY25.\nChief executive officer Mike Henry told shareholders the company has a pipeline of copper projects under development in Chile and Australia.\nMeanwhile, Rio Tinto said this week it is aiming for 780,000 to 850,000 tonnes of group copper production, with its Oyu Tolgoi project expected to supply a 50% increase.\nSteady growth\nResearchAndMarkets.com has estimated the copper market’s value stood at approximately $417 billion (US$269b) in 2024 and is set to grow at a compound rate of 5.4% to reach a projected $572b (US$369b) by 2030.\nThe new report said global demand for copper has been growing steadily, with a 300% increase in the use of refined copper across various industries over the last five decades to about 26.5Mt in 2023.\nCopper is also among the most recycled materials, owing to which the market for secondary copper has been posting considerable growth.\nCritical component\nResearchAndMarkets.com said economic growth as a result of urbanisation and industrialisation is a leading factor driving the demand for copper.\nCopper’s role in construction, manufacturing and infrastructure development makes it a critical component of progress.\nThe construction of commercial and residential buildings, bridges and the like all demand extensive utilisation of copper in diverse forms and applications.\nContinued rapid growth in the electrical, electronics and telecommunications sectors owing to technological developments has further propelled the demand for copper.\nRegional forecast\nWith an estimated share of about 41% in 2024, Asia-Pacific is the largest global market for copper and is also anticipated to exhibit the fastest growth over the analysis period, according to the report.\nChina has now overtaken the US as the leading auto-manufacturing country, with electric vehicles accounting for a significant share of this.\nAccording to the World Economic Forum, Australia produces 4% of the international copper supply and is the sixth largest producer in the world, with copper weighing more than 0.9 million tonnes – or 17 Sydney Harbour Bridges – produced per year.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}