Tightest Supply in 18 Years Boosts Copper Ahead of Industry Show
- Executives, bankers, traders gather in Santiago for Cesco Week
- China reopening and supply stumbles explain metal’s resilience
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The copper industry isn’t letting tightening credit and slowing growth kill the buzz heading into one of its biggest annual gatherings.
Underpinning the quiet confidence of executives, bankers and traders drifting into the Chilean capital for Cesco Week are the lowest stockpiles of the metal in 18 years — standing at less than a week’s worth of consumption. It’s a measure that speaks to China’s reopening and supply-side stumbles and is a big reason why prices have held up better than most to the uncertainties sweeping through global markets.