CEO says company will lift its own output when the world is ‘screaming’ for the metal
Glencore Plc added its voice to a chorus of miners warning of coming copper shortages, arguing that a “huge deficit” is looming for the crucial industrial metal. Picture: BLOOOMBERG
CEO Gary Nagle said that while some people were assuming that the industry would lift supplies as it had in previous cycles to meet a forecast increase in demand driven by the energy transition, “this time it is going to be a bit different.” “There’s a huge deficit coming in copper, and as much as people write about it, the price is not yet reflecting it,” Nagle said.
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