BHP lowers 2022 Chinese copper demand forecast due to economic slowdown and property crisis.
BHP, world's 2nd largest copper supplier, reduced its forecast for 2022 Chinese copper demand due to China's economic slowdown & property crisis. The company expects a modest global surplus through 2025, but foresees a "fly-up pricing regime" in the 2020s due to a worldwide deficit driven by renewable energy, data centers, & expanded power grids. Copper prices on London Metal Exchange have fallen 16% from their May high.
August 27, 2024
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