Copper shortages The rising copper price $5.10 today and looming shortages will bode well for SLS when it sells this huge project. Looking forward to the MRE due shortly.
"At the end of January, copper prices in London rose on continued supply concerns and hopes for further stimulus measures from China....
"Information from the London Mercantile Exchange (LME) indicated a decrease in the stock of copper, resulting in a tailwind for the commodity’s price.
According to Goldman Sachs, 2024 is the year the copper market will be tightest since 2021, as “the market has suffered a supply shock over the past quarter from a series of mine supply downgrades, reducing growth this year by 60 per cent from expectations in mid-2023.”
There will likely be a shortfall of copper exceeding 400,000 tons in 2024."