COPPER SEMINAR: Copper entering prolonged high price cycle amid deepening deficit, demand growth, Trafigura CEO says
The copper industry is entering a new phase of prolonged price highs while the global energy transition combines with a deepening supply deficit, according to the executive chairman and chief executive officer of Trafigura.
Speaking at the virtual Fastmarkets Copper Seminar, Jeremy Weir said that copper has for almost the past two decades been driven by industrialization in China, but now the sector was also seeing an ongoing push to decarbonization plus the rebuilding of infrastructure in the post-Covid-19 world to take the energy transition into account. All of these require copper, he noted.
“I think we’re heading into a very different paradigm or era for the commodities industry and copper,” Weir told the conference.