Copper price rally continues with surge to highest in 22 months

Here are 3 main points summarizing the copper rally:

1. 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.
2. 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.
3. 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/