Mercuria: Copper shortage could drive copper prices to record highs
2025-05-21 02:59:09
Gold Ten Futures, May 21, according to foreign media reports, Mercuria Energy Trading Group (Mercuria), head of metals and mining research, said on Wednesday that the company forecasts a shortage of 700,000 tons of copper concentrate this year, and a shortage of 300,000 tons of refined copper metal, which may push copper prices to a record high. Mercuria's well-known copper bull Nicholas Snowdon said he expects copper prices to hit a new high only sooner or later. Snowdon told the LME Asia Week conference in Hong Kong, "The current copper market is in an extremely fragile state. For us, the question is not whether it will enter a shortage, but when. This situation is likely to happen in the second half of this year."
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