The price of a tonne of copper should register a negative difference of 434.7 USD from June 27 to July 2, 2022
The price of a tonne of copper should register a very significant negative difference on the international metal market for the period from June 27 to July 2, 2022, inform the projections of experts from the National Mercurial Commission of the Ministry of Foreign Trade.
According to these experts from the Ministry of Foreign Trade, during this week, the ton of copper should sell at 8,960.20 USD per ton against 9,394.90 USD per ton last week, i.e. a negative difference in the price of copper. order of the order of 434.7 USD.
Earlier this month of June 2022, industry experts indicated that global copper supply is expected to exceed demand in the next two years thanks to several large-scale mining projects.
To this end, brokers expect a drop in the price of copper, the ton of which should trade in 2022 at 8,270 USD.
Several large-scale projects, such as Like Quellaveco in Peru, Timok in Serbia, and Quebrada Blanca Phase 2 in Chile, should begin production in mid-2022 and early 2023. This will help meet growing demand .
The downward curve begun by the prices of these minerals, of which the Democratic Republic of Congo is one of the largest exporters, risks being a fatal blow for its economy, which remains dependent on the mining sector.
According to the weekly report of the National Mercurial Commission, the general trend in the prices of mining products exported from the DRC on the international market is downward for the period from June 27 to July 2, 2022.
According to this report, zinc is expected to fall to trade at USD 3,640.95 per tonne this week from USD 3,702.40 per tonne last week, a negative price differential of USD 61.45.
Tin is also down this week at USD 33,150 per tonne from USD 36,223.75 per tonne.
Gold is trading this week at $59.31 per gram versus $59.38 per gram last week, giving a negative price differential of $0.07.
Tantalum is at 405 USD per Kg this week against 410 USD per Kg last week, i.e. a negative price difference of 5 USD.
Cobalt, meanwhile, is expected to hold steady in the international market this week at 87,781.05. USD per ton.
Silver will also see some stability this week at $0.70 per gram.
