Codelco forecasts copper price at $3.80-3.90 in 2022, CEO says

Chile’s Codelco estimates copper prices will fall to $3.80-3.90 per lb in 2022, with supply growth outpacing demand at least until 2024, Codelco's chief executive officer, Octavio Araneda, said on Wednesday December 1.

He added that from 2024 on, the world’s initiatives to contain climate change will have a more positive impact on supply-demand fundamentals, boosting copper consumption. A large part of that would come from replacing vehicle fleets with electric cars, for example.

Until then, Araneda said, the market would...

Published

Renato Rostás

December 02, 2021

22:14 GMT

São Paulo