Growth in electricity infrastructure in China and other developing nations will inspire flow in global copper prices by 2017. on Thursday Wood Mackenzie, said the prices will remain steady around $2.20/lb in the near term, by 2017 it is likely to touch $2.50/lb, global research firm.
Nick Pickens, said the growth in global non-residential building construction will also lead to bounce in prices. “We’re looking at grid spending as being the driver of growth,” Pickens said during the American Copper Council Spring Meeting.
Pickens said – “Despite the fall we’ve seen in 2016, much like we saw in 2015, the actual investment — because of the lower prices — flowed through to higher volumes. So we think that the electrical network will be the powerful end-user sector this year, with growth of around 7%,” .