Visually versionICSG predicts that in 2022 the global copper market should move into a substantial surplus. The surplus of metal on the market is expected at the level of 328 thousand tons compared with a surplus of 479 thousand tons in 2020 and a moderate surplus this year. The surplus will contribute to lower copper prices. High energy prices have already reached the manufacturing sector in Europe — the Dutch company Aldel stops production of primary aluminum due to high electricity prices. This puts Kazakhstan's aluminum in a more advantageous position, and such stops will only increase the metal shortage and raise the already high price for it.
