After a record peak in copper, the supply of mines is now likely to increase and the market to decline

- Ubhi Bazar ઃ Dilip Shah

- As China's economic growth slows, fears of further impact on copper prices

The recent trend in the metals market in the global industry has seen a rapid reversal. Earlier, demand for industrial metals was adversely affected by the slowdown in industrial activity in the world market following the Corona infestation and lockdown. However, now that the Corona infestation has eased and the process of reopening has begun instead of a lockdown, the demand for various industrial metals in the world market has recently seen a resurgence, said world market experts. Meanwhile, copper prices recently surged to ૧૦ 10,000 per tonne at one point in the global market. However, since then, there has been a decline in prices due to higher headlines. The recent rise in the dollar index against various global currencies has seen copper surge globally. The weekly rise in the global dollar index over the past week has been the biggest in five months, market sources said. With inflation rising sharply in the US and a 20-year record for inflation rising there, interest rates are likely to rise earlier than expected, market analysts say. As a result, the dollar index rose and copper prices fell sharply. When interest rates rise, global industrial activity slows down and this has an effect on the demand and price of industrial metals. In industrial metals, copper is considered to be the market leader and prices of other industrial metals fluctuate due to fluctuations in copper prices. In addition to copper in industrial metals aluminum, zinc, tin, nickel, lead etc. Contains various metals. The price fluctuations in the London Metal Exchange, the global trading center for these industrial metals, have an impact on the metals markets in various countries of the world. In recent years, the metals market in China has also seen an increase in trading.

Meanwhile, copper prices in global markets fell from a high of ૯૬ 210 to ૫ 215 a tonne on the London Metals Exchange on Friday. However, with the recent approval of a trillion dollar infrastructure bill in the US and global shortages of copper scrap, the decline in global copper prices is likely to be short-lived and market sources said. Copper stocks have recently declined on the London Metal Exchange and are reported to have fallen to new lows since December 2006.

Meanwhile, the government has become concerned over the recent rise in copper imports in India and various measures to be taken by the government to curb such massive imports are being discussed in the metals market. A recent meeting of the Policy Commission also found indications that the issue had been discussed. Copper imports in the country have been steadily rising since 2014 and now India has become a net importer of copper exporters from the country, market sources said. Meanwhile, experts estimate that the average price of copper in the world market will be around ૯ 4,000 per tonne in the coming year of 203. With global copper prices hitting record highs in 2021, copper supply from Mines is now expected to increase in the global market and market analysts are predicting a sharp fall in copper prices in the coming New Year 2072. Experts also point out that the slowdown in economic growth in China is likely to have an impact on the copper market. Copper prices jumped to a record high of ૭૪૫ 103 to ૭૫ 1,050 a tonne in May 2021, and copper prices have plummeted by nearly 10 per cent since then. Instead of estimating a supply deficit of around one lakh tonnes in the global copper market earlier, experts are now predicting a supply surplus of around 30,000 to 5,000 tonnes in the global copper in the new year 205. Metal market players are now eyeing further interest rate hikes in the US.