Copper Prices Weak Now But Long-Term Supply Crunch Looms as Green Energy Demand Surges

Copper prices are currently weak amid economic uncertainty, but long-term demand is expected to be strong due to the energy transition.

A lack of new copper mine development could lead to future supply shortages and undermine decarbonization efforts.

Weaker prices make mining companies hesitant to invest in new projects now, even if prices spike later.

Analysts forecast a copper market surplus in 2023, but tight supplies by the 2030s as demand surges.

Major mining companies like Freeport-McMoRan and BHP warn of impending supply gaps due to lack of new mines.