EVERYDAY SCIENCE

Detailed explanation-1: -Renewable energy demand On 2022, Fitch Solutions said competing supply and demand factors caused considerable volatility in copper price in 2022. “Prices weredriven to an all-time high of $10, 674/tonne on March 4 by concerns over supply disruptions after Russia’s invasion of Ukraine, ” it said.

Detailed explanation-2: -The price of copper is largely influenced by the health of the global economy. This is due to its widespread applications in all sectors of the economy, such as power generation and transmission, construction, factory equipment and electronics.

Detailed explanation-3: -This year’s surge in copper prices is in part due to China and its emergence from pandemic-related shutdowns, said Rohan Reddy, director of research at Global X ETFs. “China makes up about half of all global copper demand.

Detailed explanation-4: -The law of supply and demand predicts that if the supply of goods or services outstrips demand, prices will fall. If demand exceeds supply, prices will rise. In a free market, the equilibrium price is the price at which the supply exactly matches the demand.