Low copper, zinc, nickel stocks to limit Covid-19 demand impact, Glencore CEO says

Low inventories should help limit stock builds in copper, zinc and nickel that may materialize due to the decline in demand resulting from the Covid-19 pandemic, according to the chief executive officer of Glencore.

The company estimates that 4% of global copper supply for this year forecast prior to the virus has been lost due to shutdowns and cuts created by the virus, excluding smelting/refining and direct use scrap losses, Ivan Glasenberg said.
Around 6% of zinc and 5% of nickel supply previously expected to be produced in 2020 has also been lost, he added.

“Low above-ground inventories at the start of the year - relative to previous economic cycles -...


Andrea Hotter

May 12, 2020

17:47 GMT

New York