Mining News

Copper’s outlook under threat as economic risks pile up

Copper is under assault from various risks that threaten to undermine the prospects of the key metal needed to wean the world off of fossil fuels, according to CRU Group’s Vanessa Davidson.

Threats include “the possibility of lower GDP or industrial production triggered by geopolitical risks, high inflation becoming more embedded in the economy, or the effects of Covid-19 lasting longer than anticipated,” CRU’s director of copper research and strategy said Monday at a mining conference in Toronto. Other near-term risks include slower-than-expected takeup of green technologies, more scrap availability as well as substitution and reduced use of the industrial metal, she said.

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