Copper has recently made headlines due to its significant price jump, a development that benefits the economies of Chile and Peru immensely.
Credicorp Capital, associated with Peru’s largest bank, Banco Credicorp, predicts a booming future for copper.
Their analysis forecasts an impressive doubling in copper demand by 2035.
However, they also caution that the supply may not keep pace, potentially leading to a significant price increase due to scarcity.
A key factor in this outlook is China, the titan of copper consumption, responsible for half of the global demand.
The country’s economic growth, particularly in sectors like renewable energy and electric vehicles, suggests a robust future demand for copper.
The investment world has taken note, with a marked increase in purchases of stocks in copper-producing companies.
Chile remains the top copper producer worldwide, with Peru not far behind. Mexico also contributes a significant share of the global copper supply.
Meanwhile, Argentina, with its rich copper resources but limited mining history, is poised to become a major player in the sector.
The country is exploring several large copper projects, promising substantial economic benefits.