Posted 11/28/2023, 5:58:00 PM
Copper Market Faces Uncertainty as Panama Mine Ruling, Peru Strike Raise Supply Concerns
- Panama's top court ruled Canadian miner First Quantum's contract to operate Cobre Panama mine unconstitutional
- A union representing half of Las Bambas mine workers in Peru went on strike
- Closure of Cobre Panama mine could wipe out global copper surplus in 2024
- Bank of America sees 150,000 tonne global copper market surplus in 2024, which could flip to deficit
- Copper price rose 1.4% on news, as investors expect tighter market that could benefit copper