Posted on

Copper price steady as stocks fall

Copper price is holding steady at £5.15 / kg as bonded warehouse stocks fall to 145 kT.

The falling copper stocks are the result of supply chain issues rather than being driven by demand and the question is how long will it take for the copper producers to take advantage of the highest price in two years to ramp up their production in the current pandemic and climate environment ?

Also, how long will buyers be able to put off buying more copper at this price ?

Traders are unlikely to want to push the price above the last nine year peak and risk being caught out holding expensive stocks once supply recovers form the current disruption.