This morning in metals news: consultancy GlobalData forecast copper production from the top 10 copper mining companies will rise by up to 3.8% this year; meanwhile, the US Senate Committee on Homeland Security and Governmental Affairs advanced a bill that aims to strengthen Buy American requirements; and, lastly, US import prices rose in April.
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GlobalData: copper production from top 10 companies to rise by up to 3.8% in 2021
Amid a run of record copper prices, increased copper production this year could take some of the steam out of the market.
According to London-based consultancy GlobalData, copper production from the top 10 copper mining companies in the world could rise by up to 3.8% this year.
Meanwhile, output from the 10 companies — which includes Glencore, Antofagasta, BHP and Freeport-McMoRan — fell by 0.2% in 2021, GlobalData reported Thursday.