| Chilean miner, Antofagasta, forecast lower 2022 copper output as the country faces a water shortage. The London-listed miner said 2021 copper production fell 1.7%, to 721,500 mt. By 2022, it forecasts production to be between 660,000-690,000 mt because of the water shortages. Copper prices reached record levels in 2021, and Chile is the world's largest producer, responsible for nearly 30% of global supply. Water is vital in copper production as it separates the mineral from its ore and in subsequent steps. Many mining companies desalinate ocean water and use it in their processes, but not all. As a result, the water shortage will threaten some companies' operations and place copper supply at risk. (Bloomberg, 1/19/22) |
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01/10/2022: Section 232 Tariffs: Most relevant developments (AEGIS Reference) 01/05/2022: AEGIS Factor Matrices: Most important variables affecting metals prices 11/30/2021: Will the Omicron COVID Variant Impact South African Metals Production or Exports? |
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Important Headlines & Economic Data |
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AISI Steel Capability Utilization Rate Investing.com Economic Calendar 1/12/2022: Workers at Teck’s Highland Valley mine threaten to strike 1/12/2022: Nickel price storms to 10-year peak on supply worries 1/11/2022: Exclusive: China's Metals Output in December 1/10/2022: Tesla signs deal for first U.S. nickel supply with Talon Metals 1/10/2022: Nickel price hits highest in a month with inventories close to record lows 1/7/2022: French aluminium smelter to cut output by 15% on energy costs |
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| Important Disclosure: Indicative prices are provided for information purposes only, and do not represent a commitment from AEGIS Hedging Solutions LLC ("Aegis") to assist any client to transact at those prices, or at any price, in the future. Aegis makes no guarantee to the accuracy or completeness of such information. Aegis and/or its trading principals do not offer a trading program to clients, nor do they propose guiding or directing a commodity interest account for any client based on any such trading program.
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