It expects an average global copper price of $2.95 per pound in 2018, a sharp upward revision from its mid-year estimate of $2.68, due to greater demand in China.
The Chinese government’s Made in China 2025 initiative will have a significant impact on copper demand in China, according to new research commissioned by the International Copper Association.
Rio Tinto production of refined copper at the Utah-based division has been halted since Oct. 8 after a worker was exposed to sulfur dioxide gases at the plant. The employee died two days later.
As many of you know, copper is often seen as an indicator of economic health, historically falling when overall manufacturing and construction is in contraction mode, rising in times of expansion. That appears to be the case today.