The price of copper hit an all-time high this week, driven by a sharp tightening in supply and stronger-than-expected demand across critical sectors.
Citi has lifted its copper price forecast for the next year and expects the market to remain undersupplied. Traders have followed with increased long positions, reflecting a growing belief that prices will stay high.
Copper producers with efficient operations and disciplined capital management are now in a strong position. Their margins have expanded, cash flow has improved, and the broader market is beginning to reward exposure to the copper supply chain. At the same time, the barriers to new supply remain high. Permitting timelines are long, capital requirements are large, and environmental hurdles are rising. That means most new supply is years away.
Jubilee Metals Group plc (LON:JLP) is a diversified metal recovery business with a world-class portfolio of projects in South Africa and Zambia. The Company’s expanding multi-project portfolio across South Africa and Zambia provides exposure to a broad commodity basket including Platinum Group Metals, chrome, lead, zinc, vanadium, copper and cobalt.
