Is the world running out of copper? Trafigura sounds the alarm, - FT
Global copper stocks have fallen to dangerously low levels, one of the world's largest commodity traders Trafigura warned.
According to the company, the copper market is now operating with stocks that cover just 4.9 days of global consumption. This year is expected to end at 2.7 days. Normally, copper inventories take weeks to form.
Pricing, meanwhile, is relatively quiet. Right now, a ton of copper costs about $7400. This is 30% below the record $10,000 recorded in March.