Sudan continues its quick step reintegration with international partners, confirming a $1.5bn bridge loan from France to clear arrears with the ... IMF, at a meeting of global investors Monday in Paris. In the audience: Nigerian billionaire Aliko Dangote and Sudanese philanthropist Mo Ibrahim, alongside major French business leaders.
But now many analysts share his point of view, including those at Goldman Sachs, who in early April published a research note titled Copper is the new oil, that is causing a stir among commodity traders.
In this 30-page document, Goldman Sachs argues that there can be no energy transition without this key metal; the price of which is predicted to rise to $11,000 per tonne in London, by April 2022, before reaching some $15,000 per tonne by 2025.
Not enough sites to meet demand
Copper is currently trading at around $9,500 per tonne in London, which is already its highest price in a decade. A year ago in April, it was selling at below $5,000 per tonne, the same price it was going for in November 2015 and October 2016.
Anton Löf, a metals market specialist at the Stockholm-based RMG Consulting, agrees for the most part with Goldman Sachs’ analysis.