Copper 02 (Nov 12 - Dec 25)

[behappyalways]

China's low copper inventory data belie sufficient supply
https://www.reuters.com/markets/commodi ... 023-08-17/

[behappyalways]

EU's Top Copper Producer Warns Of Massive Theft, Shares Plunge
https://www.zerohedge.com/commodities/e ... ares-crash

[behappyalways]

Column: Copper trapped between old and new super-cycles
https://www.reuters.com/markets/commodi ... 023-08-22/

[behappyalways]

LME copper stocks rise to two-year high as demand falters
https://www.mining.com/web/lme-copper-s ... d-falters/

[behappyalways]

Copper Prices Stuck As Stockpiles Skyrocket
https://oilprice.com/Metals/Commodities ... ocket.html

[behappyalways]

Copper Is Critical For America’s New Energy Economy
https://www.zerohedge.com/commodities/c ... gy-economy

[winston]

Resurgent Demand From China?

by Eric Fry

Bloomberg New Energy Finance’s (BNEF) new report anticipates booming demand for these metals throughout the balance of the decade, thanks mostly to resurgent demand from China.

The research firm expects yearly global copper demand to jump 17% over the next four years to 29.8 million tonnes.

Over the same timeframe, BNEF expects global copper supply to reach just 24.4 million tonnes.

If those forecasts come to pass, a hefty 5.4 million tonne supply deficit would result – putting upward pressure on copper prices.

Meanwhile, similar to the aluminum market, above-ground inventories of copper are close to all-time lows.

The combined copper stockpiles in the major commodity warehouses of London, Shanghai, and Chicago have tumbled to the lowest levels in 20 years.

Source: Smart Money

[winston]

China Tightens Grip on Copper, Key to World’s Energy Transition

China’s production of refined copper — and its share of world output — is heading for a record this year after a burst in construction of new smelters.

China will account for about 45% of global refined copper output this year.

The nation’s metals consumption has been relatively strong in 2023. That has probably helped copper stave off an even deeper market slump, with prices only slightly lower than this time last year.

CRU sees copper demand in China growing 5% this year, while Goldman Sachs Group Inc. named copper as one of its top commodities picks for next year on a “robust green demand environment”.

China’s copper smelting capacity will increase by another 45% by 2027, accounting for 61% of expected new plants around the world in that period.

China could turn net exporter of copper by 2025 or 2026 as production booms.

Global copper concentrate supply will be loose in the first half before switching to a deficit in the second.

Source: Bloomberg

https://finance.yahoo.com/news/china-ti ... 21968.html

[behappyalways]

Copper supply growth is gradually slowing
https://twitter.com/AyeshaTariq/status/ ... 3869984194

[behappyalways]

World Could Be At The "Foothills Of The Next Copper Cycle"
https://www.zerohedge.com/commodities/w ... pper-cycle