As per an analysis by Fitch Solutions, demand for copper in the global scenario will continue to increase. As per the report, the copper market is currently under supplied and the demand is expected to increase from 23.6 mnt to 29.8 mnt by 2027. The demand for the metal is expected to be driven by the electric vehicles market and power and infrastructure sectors in China. The report also forecasts a steady increase in copper mine production in the coming years, that will be supported by improving copper prices and decrease in operating costs. As per the report, global copper production will increase at an average annual rate of 3.6 per cent till 2027, on account of new projects and expansions expected to come up during this period.
Updated On 09-Jan-2019
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