For the short-term 'copper sceptics', I have you covered with:
Macquarie currently expects 2023 global copper mine supply to increase by 2.8%, or around 600,000 tones, due to project ramp-ups and higher output at some existing operations.
JP Morgan sees global copper mine production rising by 2.6% during 2023, inclusive of a 5.5% disruption allowance, which is higher than usual this year due to social unrest in Peru. Analysts typically factor in loss of production from disruptions at 5% of total mined copper supplies.
Cheers
These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.
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