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In recent weeks the price of copper has been $6,500 per ton, approaching the lowest level of the last 3 years (which was $6,037 in 2010). The significant drop in the price of copper in the international market will have negative consequences for Armenia, as mining and processing of copper ensures about 5% of Armenia's Gross Domestic Product, about 7–8% of state budget revenues, and about 40% of exports. The drop in the international price of copper is believed to be tied to the slowdown of China's economic growth, which is the number one consumer of copper in the world. But some experts believe that the fall in copper prices is only temporary. Nevertheless, even according to the most optimistic estimates, recovering the price of copper to its 2012 level is not expected.
March 17, 2014 at 14:06