TNM Editorial: Copper prices remain moribund

A common feature of mining industry gatherings over the past couple of years is a general bullishness on copper’s future, with talk quickly turning to demand for copper being increasingly driven by the rapid adoption rates of copper-heavy electric vehicles (EVs) in Europe, the U.S. and China. For instance, at the 28th BMO Metals & Mining Conference in Florida in February, attendees voted in an informal poll to declare copper as the “top commodity” for 2019, with most observers at the event predicting mid-term copper deficits. What hasn’t been cooperating with this rosy sentiment is the actual price of copper, which continues to languish below US$3 per lb. (US$6,613 per tonne) in the spot market. In the futures market, the three-month copper benchmark trades at US$6,455 per tonne. Continue reading at The Northern Miner.