NYE: A time for reflection, and predictions for the future… of Copper?

With the arrival of the new year, it’s a time for reflecting on the past and looking towards the future. When it comes to copper prices, reflecting on the past most definitely gives us hope for the future. Copper is currently at a 4 year high, and 2017 has proven to be its best year since 2010, with a growth of over 30%. Some analysts suggest that copper is a good reflection of the overall metals market, an idea backed by the fact the FTSE 350 Mining Index has jumped to its highest since mid-2014. China has a large influence on the price of copper, as it accounts for half of the global copper demand, at roughly 23.5 million tonnes. In 2018, it’s predicted that demand from China could grow as much as 3%, which is likely to further increase the price of copper, continuing its upward trend.

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