PPC Forecasts 109,000 Ton Surplus of Copper Ingots in 2022

Pan Pacific Copper (PPC) forecasts that global copper bullion supply and demand will be in surplus by 109,000 tons in 2022.

While both supply and demand will grow, supply will slightly outpace growth, and the surplus will increase from 52,000 tons in 2021.

For 2022, the copper market is forecast at $7,800-9,400/ton (median $8,600/ton), a level lower than the 2021 market but still supported by low global interest rates.