Copper prices are facing significant pressure due to oversupply and demand uncertainties, exacerbated by the recent U.S. elections and potential policy changes.
According to ICSG, the copper market has maintained a surplus that is likely to continue weighing on prices, indicating a bearish near-term outlook.
Despite challenges, the long-term outlook for copper remains positive, supported by global net-zero emissions goals and the rising demand from industries such as semiconductors.
BHP's substantial investment in Chile's copper operations could help stabilize the country’s copper industry and revenue levels in light of current price pressures.
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