It is now evident that the continuing restrictions caused by Covid, the problems related to strikes and other operational problems, in addition to the water restrictions in Chile and the community actions in Peru, have affected copper production a lot this year, at least this year. this is what the International Copper Study Group (ICSG) reports. If we saw copper hit $ 10,845 in March, 3-month copper on the LME fell 30% last week on fear of a recession. According to ICSG, it would appear that the use of refined copper will reach + 2.2% in 2022 and only + 1.4% in 2023, mainly due to higher energy costs and inflation. Another aspect that should not be underestimated is China, which seems to want to buy Russian copper to reduce the increase in premiums. In fact, an increase between 150 and 210 dollars / ton is expected. He Tianyu, a Shanghai-based copper analyst at the CRU Group, argues that if Russian copper prices do not rise due to sanctions and remain more profitable, the purchase will be inevitable. However, if the West imposed sanctions on Russian metals, difficulties would not be long in coming for Chinese importers. Already in August, Chinese customs data recorded 34% more copper arrivals from Russia. The tsunami effect is likely to be upon us. Stay with us for all upcoming updates