Copper price breaks 2022 high: $10,000 a tonne
The price of copper, one of the essential metals for the energy transition, exceeded the level of $10,000 per ton today on the London market, a two-year high.
© Lusa
Economia Cobre
The appreciation, which has been recorded since the beginning of the year, coincides with the offer that the Australian mining company BHP Billiton, one of the largest in the world, presented to buy its British competitor Anglo American.
The offer was rejected by Anglo American, with the argument that its price underestimates the value of the company.
Analysts from Banca March, quoted by Efe, state that the growing demand for copper is one of the reasons that led BHP to present the offer, since Anglo American has mines in countries such as Chile, South Africa, Brazil and Australia.
In their opinion, if the deal goes through, the purchase "would give BHP access to more copper, one of the most sought-after metals in the transition to clean energy".
In a recent report, Plenisfer Investments, which is part of the Generali Investments investment ecosystem, highlights that the investment in real assets should focus on "essential raw materials for the energy transition, such as copper or uranium".
Plenisfer Investments emphasizes that these raw materials are characterized by a "limited supply and growing demand".
The energy transition implies the increase in the weight of electricity in the economy and, consequently, the expansion of the transmission networks.
Copper will play an important role in this process because it is one of the best conductors of electricity.
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