Morning Bites (part 2)

⚡️Power use by Peru’s key copper mines has plunged in February, following the local political unrest, Reuters reports. Based on the country's energy data, MMG's Las Bambas (1.5% of world copper supply) and Glencore's Antapaccay (0.7%) mines are currently the most affected, consuming half of their normal power usage. Meanwhile, the dynamics at other major pits (e.g. Antamina and Cerro Verde) are quite stable. Overall, the news might add some support to the sentiment on copper, especially amid the historically low level of inventories and the potential recovery in China's demand

⛔️First Quantum's Panama copper mine might halt operations on 23 February, according to a Reuter's source. Overall, this is in line with the company's recent statement. To recap, Cobre Panama (1.5% of global copper output) is running out of storage space, as the local maritime authority has ordered the stoppage of metal loadings at port due to certification issues

#copper
https://metals-wire.com/sector/Copper