Copper: Humanity’s first and most important future metal
Millions of feet of copper wiring will be required for strengthening the world’s power grids, and hundreds of thousands of tonnes more are needed to build wind and solar farms.
Chilean copper shipments bounced back in March after disruptions in the first two months of the year in a welcome boost to tightening global supplies of the metal.
Revenue from copper exports out of the top-producing nation surged 33% from the previous month, hitting the highest in more than a year, even as prices retreated slightly on average, according to data released by the central bank Monday.
The numbers suggest production is bouncing back after slumping to a six-year low on water restrictions, a string of operational setbacks and project delays. That would be a relief to London Metal Exchange warehouse stocks that are near the lowest level in 18 years, given that Chile accounts for a quarter of mined copper.
(By James Attwood)
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