Supply concerns for copper
The announcement of production cuts causes the copper price to rise.
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In Peru, a large copper mine has predicted major production cuts. This mine, after all, represents about two percent of the world's copper supply. Chile reported that copper production was down 4.3 percent in September, and Chile is the top copper producing country. China also appears to be experiencing a supply shortage of copper. Although the U.S. housing market has come under pressure, which could reduce copper demand, the copper price showed strength. Demand for copper from solar and wind energy and the electric mobility sector should be high in the coming years. Headwinds for the red metal are global growth concerns. But even if China's economy is growing at a slower pace, growth is there. A market deficit, albeit small, is generally expected for this year and next.
As long as there are concerns about a global recession, the market situation for copper will remain difficult and a significant price upturn in the near future is unlikely. In the long term, however, demand is likely to be robust, as copper is necessary for climate change. Some analysts expect demand to outstrip supply in the longer term from 2023. By 2030, there could even be a copper deficit of an estimated nine million tons, because the electrification wave is rolling, and it will consume large quantities of copper. That's where companies with copper in their projects, such as Torq Resources or Aztec Minerals, come in handy.
In Chile, Torq Resources - https://www.youtube.com/watch?v=kqKhpntk7tA - has promising projects with gold and copper. The company scores with a proven management team.
Aztec Minerals - https://www.youtube.com/watch?v=5D0A-u_wrQM - has the prospective Cervantes property in Mexico (gold and copper) and the historic Tombstone properties in Arizona (gold, silver, zinc, lead).
Current corporate information and press releases from Torq Resources (https://www.resource-capital.ch/en/companies/torq-resources-inc/ ).
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