Local protests in Peru affect the global copper market and its disruption to the supply side of copper mines supports copper prices [institutional review]

Huawen Futures commented on the impact of local protests on copper prices in Peru: Peru is the world's second-largest copper producer, with annual copper production of 2.15 million tons in 2020, accounting for 10% of global production. Peruvian local protests affect the global copper market, the Peruvian government is considering tax adjustments, focusing on excess profits, but will ensure that the country's mining industry does not lose competitiveness. In recent years, a number of protests have hit Peru's mining industry, and production at large copper mines such as Las Bambas and Cuajone has stalled. Pay attention to the follow-up domestic trends and tax policy in Peru, whose disturbance to the supply side of copper mines supports copper prices.