OCBC Bank of Singapore: LME Copper is expected to rise to a high of US $12000 within a year

OCBC Bank of Singapore pointed out that copper prices will continue to rise after the LME copper futures rose above the $10, 000 mark to an all-time high, with further demand for copper around the world, particularly in China.

At the same time, the prices of other commodities, such as iron ore and crude oil, will also maintain an upward trend.

As a result, the bank pointed out that there is still room for copper prices to rise further, at least this year, especially driven by China's accelerated economic recovery and the new infrastructure policy pushed by US President Joe Biden.

The global transition to renewable energy also requires more copper electrical component boxes, against the backdrop that LME copper prices are expected to rise to a high of $12000 within a year.