Copper supply gap to emerge in second half of the decade, new report says

After hitting a new record of $4.88 per lb. on May 10, LME cash copper prices are expected to average $4.20 per lb. in 2021 and $3.96 per lb. in 2022, according to the inaugural edition of Critical Metals for a Sustainable World, a new monthly publication by Capitalight Research.

The Toronto-based research group notes that “trend copper prices must remain well above long-term ‘incentive levels’ to justify new mine development,” or at around $3.50 per pound.