The industrial metal used in electronics and construction is called Dr Copper by many analysts as its performance is good at diagnosing the general health of the economy.
Last March, the price bottomed out at $4,371 a tonne as the pandemic dealt a massive blow to the world economy.Commerzbank analyst Daniel Briesemann said that higher prices still could follow as copper would play a major role in countries’ long-term decarbonisation strategies.For Anna Stablum, analyst with Marex Spectron, the dollar-denominated metal is primarily being “supported by the weakness of the dollar”.
Chinese declared demand is estimated to have risen 13 percent last year alone, according to the intergovernmental International Copper Study Group .
Hope the Zambians and Congolese will take full advantage of the situation.
The future looks bright for us in the mining industry
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