Copper's green future keeps miners bullish despite China weakness

Nov 28, 2022 17:48

TOKYO -- Copper prices have taken a hit recently, but Australian resource giant BHP -- and most analysts -- believe that prices of the metal are likely to rebound in the long term on the back of a global decarbonization push and further growth in demand.

Electric cars, along with wind and solar power equipment, will require more electric wiring, which could help drive up copper demand in 2040 to two to three times the 2020 level, according to the International Energy Agency.

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