Reid I'Anson, senior commodity economist at Kpler, joins BNN Bloomberg to discuss supply and demand dynamics for copper.
Reid I’Anson, senior commodity analyst with Kpler, told BNN Bloomberg in a Thursday interview that at the beginning of this year, his near-term outlook for copper remained weak despite the price surge the metal saw in the first few months of 2024. “Thankfully in China you still have this large renewable buildout there, which is helping to support copper demand, but until the property market in China starts to show at least some signs of flattening out, I think weakness within the spot market will remain.”
I’Anson said that another factor impacting the current price of copper is supply, which he said “looks pretty strong right now.”I’Anson said that he expects more near-term volatility in the price of copper, but argued that holding copper investments over the long-term “makes a lot of sense” given the metal’s use in electric vehicle and artificial intelligence technology.