Copper currently sitting at US$4.09/Ib in New York.
Interesting morning tomorrow. Copper concentrates are in increasingly short supply.
Jiangxi Copper is currently negotiating with First Quantum Metals (Cobre Panama Copper Mine owner) to secure copper concentrates in exchange for potential equity and loan funds. This shows the extent of the shortage. What is complicating the Chinese problem is the new Adani copper smelter coming online in Gujarat India in the next 12 months.
Copper currently sitting at US$4.09/Ib in New York. Interesting...
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