Analysts Predict EV Demand Will Keep Copper Prices High in 2022

Last year was a strong year for base metals such as copper, aluminum, zinc, nickel and steel despite the raging pandemic that affected numerous industries. For instance, the pandemic led to a reduction in the number of workers at mines, with most developing countries closing refineries and mines due to high rates of infection, which in turn impacted levels of production. Companies such as Glencore, BHP and Southern Copper even announced decreases in their levels of production as a result of the pandemic.

The physical market’s tightness and the high copper price environment also prompted China to release a considerable amount of its…

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