Copper supply situation may worsen

The metal on the LME is worth $ 7,777.00 per tonne in three-month shipments, after a 0.1 percent increase.

“The restrictions imposed in China - due to environmental concerns - cause temporary production pauses for copper in village mills and disputes in copper mines in Chile and Peru, as well as associated with downtime in metal supplies when there is the greatest shortage of copper in the world metal markets since 2014 ”- in turn, believes the Chilean government agency Cochilco.

“Copper producers may have difficulty supplying metals because new copper ores are not being launched,” Cochilco said in a report.

Cochilco predicts that the average copper price could be $ 3.06 per pound in 2018, up from $ 2.95 per pound in October 2017.

On Monday (January 22), copper at the LME received $ 27 - up to $ 7,068.00 per tonne.
The previous 3 weeks of copper in the LME ended with a drop in quotes. This is the longest such discount range since September 2017.