In the future, copper may become the “new oil”, such a conclusion was made by experts from the investment bank Goldman Sachs. Analysts expect an increase in the cost of the metal as the introduction of “green” energy and against the background of reduced supplies.

According to Goldman Sachs forecasts, over the next year the average copper price may rise to $11,000 per ton. At the auction on Thursday, April 15, a ton of copper was given 8.9 thousand dollars. Generally, by the spring of 2021, the price of copper has doubled from the minimums of last March.

Citigroup estimates that about a fifth of global copper consumption is for green energy components such as green power plants, batteries, electric machines, charging stations and related infrastructure. Analysts estimate that by 2050, the world’s electrical cable network will grow by 48 million kilometers, and the demand for copper will double.