COPPER

This event is a microcosm of broader supply-chain fragility in critical industrial metals, which adds to global inflationary risks. As copper is a bellwether for economic activity, its price strength signals robust demand despite supply shocks, supporting the narrative of a hot economy that may keep central banks hawkish but also boosts demand for non-sovereign stores of value like Bitcoin.

Copper

Zijin Mining Group announced that its full-year copper production target is under pressure due to flooding at a major Congolese mine, adding to global supply concerns.