A rise in energy costs and cheaper demand are likely to keep things going well.
Despite the pressure on China's top consumer and market leaders, the stock stock fell to a multi-year low - benchmark prices on the London Metal Exchange rose to a record ten 747,50 USD per tonne in May.
Since then the price slipped by around nine 600 dollars.
Expectations of slower demand growth in China and a surge of supplies from operation such as the Anglo American Quellaveco mine in Peru, are likely to keep prices subdued next year.
"Long-term prospects for copper remain bullish, but the market will remain on pause next year, according to Karen Norton, senior stock metals analyst at Refinitiv, who expects a modest copper surplus next year.
Some such as Goldman Sachs see the economic slowdown in China as overblown. Their gains outweigh policy-moderated risks cant be managed by property and machinery.
The international Copper Study Group says that the industrial export market expects to increase by 3.9% on export value.
Scrap will provide more mine supply, accounting for nearly one-third of global refined metal supply.
Bank of America expects demand to remain strong next year and sees a profit in 2023. It forecasts prices to average $9,813 per tonne next year and $8,375 per tonne in 2023.
Competition due to efforts to decarbonise coal will be a major demand, with JPMorgan predicting it will account for more than 40% of global demand growth next year in the 25-million tonnes market.
Copper is a material that can be used for the green revolution, namely electric vehicles, charging stations and renewable energy sources, such as wind and solar.
JPMorgan predicts the total copper demand coming from energy transition rising from 1,8 million tonnes this year to more than 3 million tonnes by 2025.
These companies have not invested in enough copper to meet demand, analysts say. Those companies will be unable to meet more of a time, with a deficit of long-term demand.
"Miners can't simply switch the switch overnight and start production, it takes time. Electric vehicles and wind power are quite expensive," said Jonathan Barnes, analyst at Wood Mackenzie.
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