Copper prices are reaching record highs, while treatment and refining charges (TC/RCs) have dropped to their lowest levels on record, indicating a market under significant strain. This situation presents opportunities for miners and recycled copper, but poses serious challenges for smelters.
Key trends include the surge in copper demand driven by the energy transition, production forecasts struggling to meet demand, and the increasing importance of copper recycling.
Additionally, the market faces a forecasted copper deficit and emerging challenges for smelters. The sustainability of current copper trends remains uncertain.
