Copper Mining Woes Turn Supply-Demand Forecasts Upside Down
Copper markets are looking at a supply deficit, the opposite of what traders expected a year ago.
A tunnel entrance at the Cukaru Peki copper and gold mine in Bor, Serbia.
Photographer: Oliver Bunic/BloombergThis article is for subscribers only.
Welcome to our guide to the commodities powering the global economy. Today, senior reporter James Attwood looks at the dramatic reversal in the copper market.
When copper traders gathered in London for LME Week a year ago, the consensus was for a 2025 surplus as new mines ramped up. Fast forward a year and they’re staring at a deficit.