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Chile sees slowing Chinese demand for copper, projects price falling in 2022

Commission Chilena del Cobre (Cochilco) acts as an advisor to the Chilean government through the Ministry of mining, focused on copper and its by-products.

(That’s an ‘in a nutshell’ description.)
Cochilco average copper price forecast
  • for 2021 US$4.20/lb (was US$4.30/lb previously, this projection made 3 months ago)
  • for 2022 unchanged at US$3.95/lb
Cites:
slower growth in the Chinese economy
and therefore copper import falls
China’s policy to sell copper reserves
US Federal reserve to taper stimulus
On the other hand:
  • expectations of economic recovery
  • low inventories
  • limited supply
  • labour disputes
Cochilco predicts a supply deficit for 2021 and a surplus for 2022
  • global copper demand will rise this year and next

Copper and silver prices spike as governments decarbonize

Money is flowing into the markets for such materials as copper, silver and aluminum on growing demand thanks to a shift to renewable energy and electric cars.

The trend was triggered by solid demand in China, which brought the COVID-19 pandemic under control ahead of other countries. Now investors around the world are trying to get ahead of the curve on the so-called green cycle poised to lift the commodity markets over the long term.

Three-month copper futures on the London Metal Exchange, the global benchmark, hit a seven-year high earlier this month. With the price at $7,984.50 per ton as of Friday, copper futures have risen about 80% from a low in March when the coronavirus was wreaking havoc in China.

Ever since the spread of infections settled down there, the Chinese government has been propping up the economy through public works investment and other steps. “In China, there is a shortage of many industrial products, and this is spreading to materials,” said Naohiro Niimura, a partner at Japanese commodities consultancy Market Risk Advisory.

China’s monthly imports of copper ingots and related products are well above year-earlier levels in volume terms. Meanwhile, many mines in South America and elsewhere have been forced to cut output due to COVID-19 infections. (more…)

Nickel ,Copper ,Lead :Update

Support at 1000-995 level.

-Break and close belwo 995 will take to 980-975 in panic.

-Don’t jump & Buy.

-Will update more to our Subscribers

 

 

 

Below 337,Problem for Bull’s.

-Now if breaks 335.50 then I see crashing upto 331-329.50 level.

Your Stoploss 345.

Very soon will kiss 320 or 290 level too.

Don’t trade Blindly ,Get Intraday or Swing Trading levels on Phone.

Break below 98 with volumes will take to 94-93 level.

Any Moment ,Any time …I see panic selling.

I will update more about Precious ,Base ,Agro Commodites ,Crude and N.Gast to my Subscribers

Updated at 1:50/23rd March/Baroda

Perfect 10

PERFECT10-FORECAST
 

On 11th Sept’09 ,I had written about Base Metals ..just click here and see

On 17th Sept’09,Written not to touch GOLD and Don’t hold long in precious Metals….u don’t believe …click here

On 21st Sept ’09 ,written about Natural Gas ..Don’t miss to read …click here

On 21st Sept ’09 written about S&P 500 ,No Magic No Miracle………..yes it had crashed :Click here and see

On 21st Sept ’09,I had written about Shanghai Index and just see in last 4 sessions it had crashed again…look here to BelieveOn 22nd Sept ’09 written boldly that I expect crack in Crude oil….for these type of forecast u dont have to pay money to Jokers ,I will write free…click here
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