Copper is the backbone of the global green transition, and demand projections reveal just how much the metal’s role is expanding. Here’s a deep dive into supply/demand dynamics, price forecasts, and a spotlight on a high-upside small-cap, Copper Quest Exploration (CQX–CSE).
Macro Demand Trends & Structural Supply Constraints
- Global production in 2024 was approximately 22.8–22.9 million metric tons, with China accounting for over 50% of demand.
- EV-related copper demand is expected to almost double—from 1.2 million tons in 2025 to 2.2 million tons by 2030.
- Clean energy infrastructure, including grids and renewables, alone is driving demand for 12.5 million tonnes in 2025, rising toward 14.9 million by 2030.
- Renewables (solar and wind) use 4–6× more copper per megawatt than traditional fossil energy systems.
Price Forecasts: Momentum & Headwinds
- As of February 2025, copper was trading around US $4.57/lb (~US $10,060/mt).
- JPMorgan projects copper prices could reach $11,000/mt by 2026, driven by an emerging refined-copper deficit (~160,000 mt).
- Goldman Sachs trimmed its 2025 forecast to $10,100/mt, citing weaker Chinese demand and elevated stocks.
- Copper’s strategic importance continues to rise—it’s now seen by some as more critical than oil to the U.S. economy, with the country importing ~44% of its consumption.
Investment Opportunities in Copper
Institutional investors are increasingly treating copper as both a growth and defensive play—benefiting from energy transition tailwinds and acting as a hedge against inflationary pressures.
- Major producers: BHP, Freeport-McMoRan, and Rio Tinto provide exposure with scale and dividends.
- Explorers and developers: Offer leverage to higher copper prices, though with higher risk.
Copper Quest: A Small Cap Top Pick
Ticker: CQX (Canadian Securities Exchange); also trades OTCQB: IMIMF
Projects & Assets:
- Stars Project: 9,694-hectare, 100%-owned copper–moly porphyry site in BC’s Bulkley Porphyry Belt.
- Stellar Property: Adjacent 5,389 ha with an earn-in option up to 80%.
- Rip Project: 4,700 ha JV opportunity in the same region.
- Thane Project: 20,658 ha in Northern BC, with 10 high-priority targets identified.
- North Island (Marisa Zone): Historic results include 0.078% Cu over 56 m and 0.041% over 70 m; IP survey underway.
Why It Stands Out: Copper Quest is emerging as a small-cap top pick for investors seeking early-stage copper exposure. With projects spread across British Columbia’s most prospective copper belts, historic drill results, and modern surveys in progress, the company combines risk with substantial potential reward. If exploration success continues, Copper Quest could see a major re-rating.
TL;DR
- Electrification and renewables are driving explosive copper demand, while supply projects lag.
- Copper prices hold steady in the $10k+/tonne range, with forecasts ranging from neutral to bullish.
- For stability, large producers remain safe bets; but for speculative upside, Copper Quest (CQX–CSE) offers significant potential through its BC exploration portfolio.
Marc has been involved in the Stock Market Media Industry for the last +5 years. After obtaining a college degree in engineering in France, he moved to Canada, where he created Money,eh?, a personal finance website.
