Copper price rally continues with surge to highest in 22 months
Here are 3 main points summarizing the copper rally:
- Supply Disruptions: Mine closures and disruptions have limited supply, while demand is rising due to recovering global manufacturing, especially in China. This mismatch is driving prices up.
- Investor Interest: Investors are turning to copper as a hedge against inflation and are betting on continued demand growth. This financial interest is pushing prices even higher.
- Smelter Pressure: Limited copper concentrate (partially processed ore) is squeezing smelter margins. This may lead to reduced refined copper production in the future, further tightening supply.
https://www.mining.com/web/coppers-run-continues-with-surge-to-highest-since-june-2022/
Copper Macro Thread, page-192
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