The price of copper did not perform well this year, after being amazingly bullish a year ago. What is 2019 going to bring for the price of copper? This article features our copper price forecast for 2019.
One very important remark before we look into our copper price forecast for 2019: copper is, similar to silver, a restless metal. It does not rise often, but once it starts rising it goes up extremely fast in a very short time period.
We do not want to be invested in the copper market for an extended period of time because the probability of profits is low. That’s why copper is, by far, a market to enter and exit by its chart setups. This is relevant to practically any market in the world, but it applies much more to copper is our point.
Copper Price Forecast for 2019: Supply Forecast
Let’s start by a supply forecast in the physical copper market.
The International Copper Study Group published recently their copper supply forecast for 2019.
After a decline of 1.5% in 2017, world mine production, after adjusting for historical disruption factors, is expected to grow by around 2% in 2018 and 1.2% in 2019: