Roskill’s associate Copper analyst Jonathan Barnes talks Proactive London through the copper price drivers, he says there have been 'a huge combination of factors which have really propelled the recovery in the copper industry'.
He highlighted the weakness in the US dollar as a macro factor as well as disruptions at mines last year in Panama and Peru which meant delays to new projects.
Barnes says what a lot of people didn't see coming was the 'weakness in the scrap market part of the equation'. He says it's a 'peoples' market' and due to Covid the 'scrap didn't flow'.