Posted 4/9/2024, 10:21:42 AM
Copper Prices Surge on Supply Worries and Strong Demand Outlook
- Copper prices have climbed over 15% in the past 2 months due to mine disruptions and stronger demand outlook
- Supply concerns and brighter demand prospects have triggered bullish calls on the copper market
- Copper is a key material for the energy transition and decarbonization efforts
- Recent data suggests stronger manufacturing activity and domestic consumption in top consumer China
- Multiple analysts predict multi-year copper deficits and explosive price upside on continued production setbacks