🇨🇳#copper #metals #china #inventory
BMO: China copper inventory = Min since at least 2009

🌎#copper #poll #commodity
BBG survey: copper will show stronger dynamics than oil, gold or corn in the next six months

🌎#copper #metals #shortge
there isn’t enough copper in the world — and the shortage could last till 2030 — CNBC

🌎#metals #forecast
Nornickel - metal outlook for 2023:

nickel: surplus of around 120K tonnes in 2023 #nickel

copper: a mild deficit of 160K tonnes #copper

palladium: 0.3 moz deficit in 2023 #palladium

platinum: 0.2 moz surplus in 2023 #platinum

— details

🌎#copper #markets
Deutsche: investors raise long positions in copper

🌎#copper #reserves #markets
LME copper warehouse stocks level = min in 18 years
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investors raise long positions in copper

🌎#copper
copper production in Chile (million tons) = 18-year low

*Chile is the largest producer of copper in the world = 27% of the global copper production
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Wood Mackenzie: decarbonisation demands a lot of copper, but copper supply will shrink without investment in new production

early: CAPEX across commodities continued to fall

❗️🌎#copper #shortage #forecast
Bernstain: starting in 2027, the copper deficit will only increase without the introduction of new capacities

🌎#copper #capex
Chile and Peru are significantly boosting their investments in copper production = $90B by 2030 — BNEF Metals Research

*Chile, Peru, and the Democratic Republic of the Congo account for 46% of global copper production
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Bernstain: starting in 2027, the copper deficit will only increase - details

🌎#copper #sentiment #renewable
Copper could skyrocket over 75% to record highs by 2025 - driven by mining supply disruptions and higher demand for the metal, fueled by the push for renewable energy

#shortage Goldman: copper deficit of over half a million tons in 2024

Bernstain: starting in 2027, the copper deficit will only increase.

Wood Mackenzie: decarbonization demands a lot of copper
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earlier: there isn’t enough copper in the world — and the shortage could last till 2030

earlier: copper production in Chile (million tons) = 18-year low

BNEF Metals Research: Chile and Peru are significantly boosting their investments in copper production

*Chile, Peru, and the Democratic Republic of the Congo account for 46% of global copper production

🌎#copper #macro
copper / SP500" ratio = historical low
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commodities / SP500" ratio = historical low (chart)

⚠️🇺🇸#inflation #us #copper #correlation
the correlation between copper prices and US inflation signals the start of inflationary growth.
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the current inflation dynamics in the US closely resemble those of the 1970s (chart)

the markets fear a second wave of inflation akin to that of the 1930s or 1970s (chart)

MarketDesk: Fed's greatest fear is the resurgence of inflation, akin to the 1970s (chart)

🌎#copper #macro
Goldman Sachs expects a significant copper shortage in 2024.

Citi announced the start of the second major bull market in copper this century.

Trafigura CEO: in order to fill a potential supply gap of 8 million tons by 2034, mining companies need prices that are higher than $10,000 a ton and possibly as high as $12,000

🌎#copper #forecast #metals
Andurand expects that the price of copper will almost quadruple to $40,000 per tonne in the next few years amid a severe deficit.
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Citi announced the start of the second major bull market in copper this century.

⚠️🌎#copper #metals
copper inventories in warehouses across Asia are rapidly increasing. Analysts do not rule out continued pressure on prices.
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#recession the rise in copper inventories signals potential problems in the global economy.