⬤ The copper market is facing a serious supply crunch. Glencore just dropped a warning that the industry needs way more mine production to meet what's coming down the pipeline. Their data shows cathode demand climbing steadily while current mines and planned projects aren't even close to filling the gap.
⬤ Here's the kicker: without major new mines and a lot more scrap recycling, we're looking at a deficit approaching 27 million tonnes. Existing copper production is actually declining compared to what the world needs, which means the industry desperately needs fresh investment to avoid a serious shortage.
⬤ Prices are already telling the story. After bouncing around wildly from 2022 through 2024, copper has been trending higher since late 2024. The market's finally pricing in what the data shows—tighter supplies and rising production costs are pushing prices up.
⬤ When supply can't keep up with demand, something's gotta give. The numbers make it clear—copper production needs to expand big time, or we're heading into a structural shortage that could reshape the entire market.
