Copper prices reached six-month high in December on a weakening US dollar and news of China relaxing its zero-COVID control policy, but copper cathode end-users reduced term contracts coverage for 2023. Copper concentrate supply is expected to be in surplus this year, but we saw spot tightness just in the start of the year.
S&P Global Commodity Insights' experts Yuen Cheng Mok, Han Lu and Jesline Tang discuss the driving factors for recent copper market and expectations for the new year.
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