Copper Tightness ‘Is Far Beyond a Price Issue,’ Freeport CEO Says
- Scarcities loom as demand picks up in energy shift, he says
- China demand has remained ‘remarkably strong’ amid lockdowns
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Freeport-McMoRan Inc. and Goldman Sachs Group Inc. share a bullish outlook for copper. They appear to diverge, however, on how much of an impact higher prices would have on supply growth.
Goldman analyst Nicholas Snowdon told a copper conference Wednesday that current near-record prices need to go much higher in order to stimulate a supply response. The next day, Freeport boss Richard Adkerson said market tightness “is far beyond a price issue.”