COPPER PRICE

Copper price hikes across the world owing to a shortage in copper reserves.

The cost of brass used in many things like power cables and electric cars is expected to rise to a record high this year because of a rebound in demand from China.

This is happening because global inventories of red metal have gone down rapidly to their lowest level since 2008, which means there is little left If China continues to buy in bulk. Experts predict that the world could run out of copper inventories by the third quarter of this year if China’s demand keeps increasing. This will cause a record rise in the copper price.

Cuprum is essential for renewable energy because it distributes electricity from wind and solar farms to homes and factories. Despite the anticipation of supply and demand issues, current prices of commodities like copper are not reflecting this.

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SOURCE :

(Source: ScrapMonster)