Copper Prices Hit All-time High

*Copper mine supply has grown by less than 2% annually since 2013
*Rising energy prices may have boosted copper demand while also increasing copper production costs
* Electric vehicle sales surge by 160% in 2021, driving up copper demand
*China's economic recovery in late 2020 and early 2021 may also be a factor driving copper prices higher

Copper prices rise is mainly due to supply issues. From the perspective of current global demand, these metal raw materials are used in new energy, advanced photovoltaic, superconducting and other fields, so their price increase itself represents the overall trend of industrial products, especially copper and silver.