Copper price to extend slump in 2022 as mines ramp up, China weakens
Copper prices are due to extend their decline next year from record levels touched in 2021 as mine supply ramps up and economic growth tapers in top market China.
The leaders spoke for the first time since the announcement in a 30-minute call and agreed to discuss the issue further at the G7 summit in Canada later this week.
"What I can say with full confidence, though, is that prices will rise—for producers and consumers alike—which is good for gold but a headwind for continued economic growth."