Macquarie says copper is oversupplied and overpriced
Copper is down 16% from January, but more pain could be ahead as global inventories grow to unprecedented levels and fundamentals deteriorate.
Frik Els , Editor
Frik has 20 years’ experience as a business journalist across a range of industries including automotive, technology and entertainment markets. Frik has an entry in Global Mining Observer’s Who’s Who of Mining 2018, and contributions to publications and conferences including Business Insider, Investing.com, Mines & Money London and New York, Vancouver Resources Investment, Progressive Mine Forum in Toronto and Canadian Mining Symposium in London, UK. He’s been interviewed on CBC Radio and Korea State TV and quoted in the Financial Post.
Posts by Frik Els:
CHART: Billions wiped of mining stocks as gold, silver, copper prices plummet
Stock losses for world’s biggest mining companies near 30% since war’s start as copper enters bear market, silver falls 40% from high and gold suffers worst week in decades.
RANKED: Top 20 automakers by battery metals spending
Volkswagen overtakes Tesla to become the biggest spender on lithium, nickel, cobalt, manganese and graphite amid recovering prices.
CHART: Tuesday teardown for mining stocks as Iran war escalates
Gold, silver, copper prices tumble but metals and mining stocks recover some losses in late trading.
CHART: EV battery metals index jumps to 27-month high
EV battery raw materials bill tops $2 billion for the first time since August 2023 and surging lithium, nickel prices going into 2026 puts slump definitively in the rearview mirror.
Copper price: Strains deepen as global smelting activity hits decade low
Copper prices are under renewed pressure after satellite data showed 1.2 million tonnes of January smelter capacity outside China went idle.
CHART: Friday massacre for mining stocks but copper price pulls out of nosedive
Historic down day for gold and silver prices caused double digit losses for precious metals stocks but copper miners came off relatively lightly.
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Top 50 mining companies power through Iran war – up $250 billion in 2026
The world’s 50 biggest mining stocks shrug off global turmoil hitting a combined $2.4 trillion value in Q1, but the tide did not lift all boats.