Published: Friday, February 7, 2025 · 3:10 AM | Updated: Friday, February 7, 2025 · 3:10 AM
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Analysts from ANZ’s Economics and Market Research Department have highlighted potential supply constraints in Chile, the world’s largest copper producer. The country anticipates increased demand driven by the energy transition and grid construction, which could support copper prices.
However, the Chilean Copper Commission, Cochilco, warns that geopolitical tensions and U.S. tariffs continue to pose downside risks to the market. Despite these concerns, copper prices have increased during Asian trading sessions.
The three-month copper contract on the London Metal Exchange rose by 1.0%, reaching $9,366.00 per ton.
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