Copper, nickel price: 3 charts that bolster the bear case
The mad surge in the copper price took even ardent bulls by surprise, but doubts are beginning to creep in about the sustainability of the rally, at least in the short term.
The Mining Association of Canada says the total 10-year projected value of $82 billion for new projects remains nearly 50% below the 2014 level of $160 billion.
Company said copper output, which dipped to 306,000 tonnes in 2020 from 311,000 tonnes in 2019, was expected to slip further in 2021 to between 275,000 and 295,000 tonnes.