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Copper price hits new high on declining scrap supplies Stock Image. Shortages of copper and declining inventories could drive prices to levels beyond current record highs unless scrap supplies increase — scrap accounts for about a third of the roughly 30 million tonnes of annual global copper supplies. As copper prices rise, the flow of scrap accelerates as the market attempts to cover the gap between demand and supply. Sign Up for the Copper Digest Sign Up Copper for delivery in July was up 0.9% Tuesday afternoon, with futures trading at $4.7620 per pound ($10,476 a tonne) on the Comex ...

Newmont Corporation Newmont is the world’s largest gold mining company. In addition to gold, the company also mines copper, silver, zinc, and lead. It boasts over 31,600 employees and contractors worldwide and is the only gold company in the S&P 500. NEM stock closed Friday’s trading session at $67.33 a share and has been trading sideways year-to-date. Could this be an opportunity for investors to buy NEM stock given the rise in copper prices? Last week, the company delivered solid first-quarter financials and is on track to meet its full-year guidance. For the quarter, the company produc...

Home / Commodities / Commodity News / Copper is ‘the new oil’ and low inventories could push it to $20,000 per ton, analysts say Copper is ‘the new oil’ and low inventories could push it to $20,000 per ton, analysts say Key Points • In a note Tuesday, Bank of America commodity strategist Michael Widmer highlighted inventories measured in tons are now at levels seen 15 years ago. • Given the fundamental environment and the depleted inventories, Widmer said copper may spike to $13,000/t in the coming years after recently notching $10,000 for the first time in a decade. • David Neu...

The world risks “running out of copper” amid widening supply and demand deficits, according to Bank of America, and prices could hit $20,000 per metric ton...

The world risks “running out of copper” amid widening supply and demand deficits, according to Bank of America, and prices could hit $20,000 per metric ton...