Copper price to peak this year, here's why - CRU

(Kitco News) Copper headlines have been everywhere lately, with the economic recovery and a move toward green technology boosting prices to 9.5-year highs. But that excitement will start to fade, according to CRU director of base metals research and strategy Vanessa Davidson, who is projecting a peak in prices as soon as Q2.

Copper prices traded well above $9,000 a tonne at the end of February on positive vaccine news, which has encouraged expectations of a quick economic recovery, Davidson said on the sidelines of Prospectors & Developers Association of Canada (PDAC), which is virtual this year.

However, as more copper projects begin to come online, the price will get dragged lower into 2022, she told Kitco News.