Trafigura sees fresh copper price records within a year
Trafigura’s co-head of metals and minerals said on Monday the copper price could hit a new record high within the next 12 months owing to very tight stocks, even above $12,000 a tonne.
“I would highlight copper as the most critical metal globally given the shortage in the market. We only had 3.5 days of copper stock equivalent at the end of last year,” Trafigura’s Kostas Bintas told the FT Commodities Global Summit.
Copper hit a record high $10,845 in March last year.
Source: Reuters (Reporting by Julia Payne; Editing by Susan Fenton)