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Significance
Record imports by China caused demand to exceed supply, creating a market deficit of 1.2% (278,000 tonnes) in 2020. Dollar weakness in the second half of 2020 added to nominal gains, and seasonal fourth-quarter demand provided additional support.
Impacts
The Democratic Republic of the Congo has postponed its plan to ban copper concentrate exports until the end of April.
Barrick is rumoured to be thinking of buying Arizona-based Freeport; this would create a copper-gold mining powerhouse in North America.
Ivanhoe’s study of its Kakula mine (Democratic Republic of the Congo) claims it is the world’s most environmentally friendly copper miner.
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2021
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