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· Geordie Wilkes, director of research for Sucden Financial, pointed out that while year-to-date LME copper prices have already come up from a low of about $4,600 per tonne in March 2020, they could push even higherperhaps even as high as $11,000 per tonneespecially if investor sentiment remains more confident.
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· Refined copper output in top consumer China could increase 6% year-on-year to 9.86 million tonnes in 2021, while demand is likely to grow 3.3% over
· Geordie Wilkes, director of research for Sucden Financial, pointed out that while year-to-date LME copper prices have already come up from a low of about $4,600 per tonne in March 2020, they could push even higherperhaps even as high as $11,000 per tonneespecially if investor sentiment remains more confident.
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· China is steadily scaling back its generous subsidy policy, and national-level subsidies are expected to be removed entirely within the next couple of years. Nonetheless, we expect China to continue to dominate global EV sales, with half of all expected global NEV sales to be in China
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· The high costs of financing a major mine are reflected in the fact that many of the mines with the most production capacity are either state-owned or owned by major mining corporations like BHP and Freeport-McMoRan. The list below is compiled from the International Copper Study Group's World Copper Factbook 2019.
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· There is no sign yet of a high utilization of the global copper smelter capacity, however this capacity is expected to keep growing at 3.5% per year over , mainly because China will further expand their current copper smelting capacity, albeit at a slower pace than before, to replace in part less environmental friendly technology.