The price of copper has risen – how long will the bull market last?

The price of copper has leapt to almost a two-year high, but demand for the metal continues to outstrip supply. How long will the market remain bullish?

Copper granules at a scrap facility.
(Image credit: Bloomberg Creative)

We are entering the “copper age”, says Étienne Goetz in Les Echos. The price of copper has jumped by 18% this year to trade close to two-year highs of roughly $9,910 per tonne on the London Metal Exchange

Business intelligence company CRU Group estimates that $150bn in investment in new supply will be required between 2025 and 2032 to meet growing global copper demand. Yet higher interest rates and environmental opposition to mining projects are making investors reluctant to stump up the cash. 

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Markets editor

Alex is an investment writer who has been contributing to MoneyWeek since 2015. He has been the magazine’s markets editor since 2019. 

Alex has a passion for demystifying the often arcane world of finance for a general readership. While financial media tends to focus compulsively on the latest trend, the best opportunities can lie forgotten elsewhere. 

He is especially interested in European equities – where his fluent French helps him to cover the continent’s largest bourse – and emerging markets, where his experience living in Beijing, and conversational Chinese, prove useful. 

Hailing from Leeds, he studied Philosophy, Politics and Economics at the University of Oxford. He also holds a Master of Public Health from the University of Manchester.