According to the view expressed by analysts «Monash University» (State University of Australia), the world's copper reserves able to cover the growing demand for the red metal for at least a century. Such a conclusion was made by analysts on the basis of data received from mining companies around the world as part of a recent study by Australian scientists special.
Previously, it was believed that copper reserves on the planet enough only for thirty years, after which the market will experience a shortage of hard red metal. However, recent studies have shown that with the use of innovative methods of mining and using high-tech methods of ore processing, global resource stocks are still far from exhausted.
Meanwhile, Gavin Mudd — one of the researchers of this issue — draws the attention of the industry and operators in the factors affecting the progress in the field of copper ores and copper production sector. Among them — the trade unions fight for workers' rights, public resistance opposing the development of deposits (since damage to such enterprises ecology), and other circumstances that can adjust the developments in non-ferrous metallurgy.
Meanwhile, the current price of copper continued to show short «ups and downs» with the preferences of the bearish trend, and it seems that in the short term, the stabilization of quotations on the resource is still not planned. Last week, the price of the red metal rose slightly — asset price reached a two-week high at 3,176 dollars per pound. However, analysts do not hasten to give optimistic forecasts about the price of the resource, and some of them even suggest a radically negative assumptions about copper market conditions. In particular, not so long ago Leon Westgate — Analyst «Standard Bank» — expressed the view that the price of the red metal will decline further. According to him, the current level of US $ 6,600 per tonne of copper — is not a lower limit for Cuprum, and 6500 USD per 1000 kg may well be the next price benchmark for him. However, among the non-ferrous metals industry experts, there are optimists who believe that in the third quarter of this year, you can expect an increase in imports of Chinese metal players in the market, which will support copper prices decent.