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Commodities

Copper Prices Soar Amid Supply Shortages and Slumping Demand

Guavy AI Editorial Team
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Oil Copper
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Copper's physical market is facing a severe supply squeeze, driving spot prices to rise by 4.3% to $6.73/lb.

This surge in copper prices has not been matched by mining stocks, which have fallen 2.6%, highlighting the disconnect between metal prices and producer equities.

Several supply disruptions are contributing to this shortage, including a boiler failure at PT Smelting Gresik in Indonesia, production cuts by Antofagasta due to storms, and Codelco's decision to abandon its 1.34 million tonne production target.

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