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Copper market fragile amid supply issues, zinc oversupplied
The current supply situation in the copper market remains fragile amid the current supply situation. Copper prices saw a temporary surge of nearly 5% after the operator of Indonesia’s key Grasberg mine declared force majeure on its contracted supplies earlier this week. The production at the mine had to be halted due to an accident at the beginning of the month. “At least since the treatment and refining charges at copper smelters had virtually collapsed – indicating a shortage of raw materials – concerns about a supply shortage have increased,” Thu Lan Nguyen, head of FX and commodity research at ... (full story)
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