Copper price grew by 15.2 percent in November. It was the biggest growth since 2010. The copper market is stagnant for few years. The prices are too low and producers are reluctant to increase production, develop new sources. They are waiting for price rising. Probably November became the first point of the new growth period. Experts predicted price growth after demand China had grown because of road building. In fact, demand will grow more and more, and some of the economists expect copper deficit and high prices as a result.
Leading international agencies made the following copper price predictions:
• The World Bank in its commodity forecast report estimated that the average spot price for copper will fall slightly further in 2016 to $4700/mt from $5510/mt in 2015. This forecast is the lowest value since 2006. Over the next decade, the price will grow to $7000/mt.
• The IMF's report revealed a similar expected decline from $4879/mt in 2015 to $4675/mt in 2016 and growth to $5788/mt in 2017. But then experts estimate to decline to $5720/mt in 2022.
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