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Mining executives say copper set for fresh price break-out
A decline in the copper price since the beginning of the year was not “the stuff of nightmares”, said Jan Nelson, CEO of Johannesburg-listed Copper 360, who added that the red metal was not near plumbing previous market dips. “We’re looking at a copper price of $8,300/t and people are panicking. It’s nowhere near the $2,000 or $3,000 a ton which we experienced through the previous down dip in the cycle,” he said Copper has been trading 15% lower than in January 2023, presently in the $8,300 per ton range. “Copper is heading into a soft patch as mine supplies ramp up. Chinese demand is not strong enough ... (full story)