RBC analysts The Financial Post reports that global copper supply will outpace demand over the next two years, helped by several upcoming large mine projects, RBC Capital Markets analysts said on Wednesday. RBC analysts said they expect the industrial metal's price to be $4.32 per pound (U.S.$) in 2022, and drop to $3.75 in 2023 and 2024 on a "small" surplus in the market.
GENM copper production should be coming onstream in mid to late 2024 when copper demand should (according to various forecasts) be ahead of supply again.