Copper miners predict industry overhaul as end users rush to secure supply

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Financial Times 14h ago

Copper miners predict industry overhaul as end users rush to secure supply - Financial Times

Quick Summary:

As for demand destruction, Anglo’s Gait says that in plumbing, which accounts for 9 per cent of copper consumption, it “is the easiest material to remove”.

To date, the only major financing deal for copper by a car company with a miner — between which smelters and several layers of manufacturers and suppliers sit — has been Stellantis, owner of the Jeep, Fiat and Peugeot brands, with McEwen Copper, which faces a unique foreign currency issue in Argentina, where its project is.

The Bank of America predicts copper supply to be about 5mn tonnes, or 15 per cent lower than demand, by 2030.