Like so many parts of the global economy, copper prices were deeply affected by the onset of the coronavirus pandemic. Temporary closures to copper mines and stockpiling in various markets, particular China, saw prices soar as supply was outstripped by demand.
Now in 2022, copper prices are spiking once again, facing something of a perfect storm on an international scale. In Chile, the world’s largest copper producer, accounting for roughly 28% of global production, poor ore quality and an ongoing drought have reduced output significantly since the start of the year.
Meanwhile, in Peru, the second largest copper producing nation (around 12% of the global supply)…
