Copper stocks in LME registered warehouses stand at 83,325 tonnes are already low.

The industry is flush with cash after last year’s record profits, while boards and managers believe they have the support of key investors after promising to avoid the reckless overspending of the last cycle.

Backed by Glencore, company was viewed as a key part of the UK’s drive toward an EV manufacturing boom.

The phased project is aimed at providing renewable heat to Stellantis' Rüsselsheim manufacturing facility.

Activists continue to block police attempts to demolish the village of Luetzerath to make way for the expansion of an opencast coal mine.

The metal will probably average $3,125 a ton this year in London, analysts said.

The LME global warehouse network held 654,345 tonnes of metal at the end of December, less than half the tonnage registered at the close of 2021.