The dramas in South America are ongoing with NYSE listed Southern Copper Corporation reporting a cessation of mining at the Cuajone Mine in Peru after being blocked by protesters.
The mine producers around 7,000 tons of copper annually.
The LME’s copper industry group recommended banning new deliveries of Russian metal to LME warehouses which, if it proceeded, would send shockwaves throughout the copper markets.
Such a move could see a chaotic and dysfunctional copper market.With copper inventories at a 16-month low this might be a bridge too far and to date Europe has not placed any sanctions on Russian metal producers.
*Excerpt above from stock head newsletter
