Base Metals Preview: Copper Looks Supported On Deficit Talk

Copper edged up after recent tumble as traders eyed the staggered recovery in equities. Global Copper market will see a supply deficit in the 2020s as emerging technologies that rely on the metal become more prevalent, according to Arnaud Soirat, CEO of copper and diamonds at Rio Tinto, noted media reports. The era of electric vehicles and similar technologies is on the horizon, leading a shift in copper supply and demand. Tightening supply and solid demand are combining to produce a positive pricing environment Soirat noted in a copper conference in Santiago, Chile.