VIDEO: Where is the copper surplus?

While some see the copper market in a large surplus next year, others are predicting a tightening of available material and a return to prices above $8,000 per tonne.

{BrightcoveVideo}

While some see the copper market in a large surplus next year, others are predicting a tightening of available material and a return to prices above $8,000 per tonne.

Wiktor Bielski, global head of commodities research at VTB Capital, talks to Metal Bulletin’s Alex Harrison about his predictions for the year to come.

Alex Harrison
aharrison@metalbulletin.com
Twitter: @alexharrison_mb

What to read next
Asian spot copper premiums rose in the week ended Tuesday July 23, with premiums imported into China increasing on improved arbitrage terms. In the US market, supply failed to keep up with strong demand while in Europe participants were mostly off for the summer holidays
In the fourth episode of Fastmarkets critical minerals podcast Fast Forward, Freeport-McMoRan CEO and president Kathleen Quirk tells host Andrea Hotter why there's a preference to build and not build new supplies of copper right now
Demand for primary aluminium from the green transition remains a “brighter spot” for consumption amid an otherwise challenging downstream demand outlook, Eivind Kallevik, Norsk Hydro’s chief executive officer and president, told Fastmarkets in an exclusive interview on Tuesday July 23
Acquisition Company Limited (ACG) has agreed to buy the Gediktepe mine in Turkey — the company’s first deal as it works to build a sizeable mid-tier copper producer, its chairman and chief executive officer told Fastmarkets.
Copper market price speculation is driving the base metals narrative, head of research at UK-based services provider Sucden Financial Daria Efanova said during the company’s third-quarter metals webinar on Wednesday July 17.
Chinese mining giant CMOC reported a 178% year-on-year increase in cobalt metal production for the first six months of 2024, according to an announcement by the company on Friday July 12