Copper’s fall from grace among fund players is clear to see in sliding volumes across all three major trading venues, writes Andy Home.

An advance in consumption was offset by a drop in the country's key mining sector beset by environmental protests.

In 2021, MVC produced a total of 63.4 mlb of copper at a cash cost of $1.75 per/lb.

Imports of unwrought copper and copper products for the year totalled 5.53 million tonnes, down 17.2% from 2020's record volume of 6.68 million tonnes.

Indonesia has played a key role in global markets as a bulk materials supplier, but President Joko Widodo has pledged to eventually stop exports of all raw commodities to turn the country into a major manufacturing hub for electric transportation.

Industrial metal markets are marching higher again, as production outages and shrinking inventories revive worries about global supplies.

“We’ve got decades worth of high rates of investment into infrastructure as the world seeks to decarbonize. That’s a widely held consensual view."