Ann: December 2022 Quarter - Quarterly Report, page-8

This is a very good article about demand and supply of Cu referencing a number of sources for the comments. The title says it all “Copper shortage getting real”. It covers all the issues on the supply and demand sides in a summarised form.

https://aheadoftheherd.com/copper-shortage-getting-real-richard-mills/

And just now from an article in the AFR - Ausbil are more bullish on Cu than other metals They see 2023 as being the year for copper. They expect copper demand to increase, in part due to China reopening, while supply is underperforming expectations, all in a very tight market.

Physical copper inventories are low, geopolitics is negatively affecting supply, particularly in South America, but demand is set to increase. The market fundamentals support a rosy outlook for copper.

Ausbil’s views are consistent with the above article.