Copper – now a critical metal in the US

A year ago, a ton of copper cost just under US$9,000. At just over US$11,000, a ton of the reddish metal reached a record price in October. Today, at just under US$10,800 per ton of copper, one wonders where the price is headed. The record high was followed by a normal correction, as no particular supply concerns have materialized. Even though China’s copper ore imports declined in September and October, they were still at a high level, approximately seven percent above the previous year’s level.

Chinese copper production is therefore currently high, and if this remains the case, the copper price should be well supported. However, there are also uncertainties due to global trade and economic developments, which could cause short-term fluctuations. The rapprochement between the US and China in terms of trade disputes was certainly positive. China is postponing its export restrictions on rare earths for one year. In return, the tariffs on Chinese goods announced by US President Trump are to be suspended for around one year.

However, the supply deficit appears to be easing again, as copper heavyweight Codelco forecasts higher production for 2026. And in Indonesia, Freeport-McMoRan has resumed production after a mining accident. On the demand side, there is growing demand from green technologies. And the U.S. Geological Survey has just officially classified copper as a critical metal for national security. This puts copper on the same level as lithium, antimony, and tungsten.

Arizona Sonoran Copper Company – https://www.commodity-tv.com/ondemand/companies/profil/arizona-sonoran-copper-company-inc/ – owns the Cactus project in Arizona. It has a very good economic rating, is suitable for simple open-pit mining, and has a projected life of 22 years.

Axo Copper – https://www.commodity-tv.com/ondemand/companies/profil/axo-copper-corp/ – owns the La Huerta copper project in Mexico. It covers approximately 11,300 hectares and is a new copper discovery in the promising Sierra Madre belt.

Current company information and press releases from Axo Copper (- https://www.resource-capital.ch/en/companies/axo-copper-corp/ -) and Arizona Sonoran Copper Company (- https://www.resource-capital.ch/en/companies/arizona-sonoran-copper-company-inc/ -).

Sources:

https://www.tagesschau.de/ausland/amerika/usa-china-zusatzzoelle-100.html;

https://www.wallstreet-online.de/nachricht/20133407-uran-liste-usa-erklaeren-kupfer-silber-kritischen-mineralien

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