Copper Shortage Expected to Push Prices to Record Highs, Says Mercuria Research Head

Published: May 22, 2025 23:38

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According to SMM, the head of metals and mining research at Mercuria Energy Trading Group said that the company expects a shortage of 700,000 mt of copper concentrates and 300,000 mt of copper cathode this year, which could drive copper prices to record highs. Nicholas Snowdon, a well-known copper bull at Mercuria, said that he expects copper prices to reach new highs sooner or later. Speaking at the LME Asia Week conference in Hong Kong, Snowdon said, "The copper market is currently in an extremely fragile state. For us, the question is not whether there will be a shortage, but when. This situation is likely to occur in the second half of the year.

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