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Copper price grew by 15.2 percent in November. It was the biggest growth since 2010. The copper market was stagnant for few years. The prices at the moment are too low and producers are reluctant to increase production or develop new sources. They are waiting for prices to rise. Probably, November became the first point of the new growth period. Experts predict price growth after demand in China has grown because of road building. In fact, demand will grow more and more, and some of the economists expect copper deficit and high prices as a result.

Leading international agencies made the following copper price predictions:

  • The World Bank in its commodity forecast report estimated that the average spot price for copper will fall slightly further in 2016 to $4700 per metric ton from $5510 in 2015. This forecast is the lowest value since 2006. Over the next decade, the price will grow to around $7000 per metric ton.
  • The IMF's report revealed a similar expected decline from $4879 per metric ton in 2015 to $4675 in 2016 and growth to $5788 in 2017. Experts estimate to decline to $5720 per metric ton by 2022.

Dive deeper into historical commodity prices from the World Bank and IMF or commodity price forecasts.

You can also explore with Knoema a variety of other critical commodities, including:

gold | silver | copper | aluminum | nickel | zinc | coal | natural gas | crude oil

As you examine commodity prices and forecasts, you may also be interested in economic forecasts for the G20 countries across the following indicators: GDP growth | inflation | unemployment | government debt | current account balance | external debt.

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