Demand for copper and industrial metals will remain weak in the first half of 2023 as global interest rates peak and China's economy is likely to continue to be weighed down by the downturn in the property sector and the pandemic, according to FocusEconomics, an independent research firm based in Barcelona.
The average copper price in 2023 is expected to be $7,660 a ton, below current levels, according to FocusEconomics' forecasts, with a low estimate of just $5,430 a ton and an uninspiring high of $8,775 a ton.
Copper prices in 2024 are expected to average $8,000 a ton, with forecasts ranging from less than $5,000 to $10,750 a ton.
