.jpeg)
1) Bold Baatar, head of copper at Rio Tinto, said that the short-term outlook for copper is "pretty healthy" with global stockpiles heading lower and disruptions in Latin America having contributed to low stockpiles. Global copper inventories held in London Metal Exchange's (LME) warehouses hit the lowest level in 17 years last month, as China and the global economy is starting to recover from the Covid-19 lockdowns. "Overall, actually, there's significant copper shortages in terms of the supply deficit that's coming out of Latin America and the disruptions that are happening in countries like Peru. "So at the moment, even in the short-term outlook, there's a pretty healthy demand picture," Bold Baatar said.
2) According to China Daily, China will make an effort to join the heated race to mine the deep sea for critical minerals. The paper calls mining the deep sea "a new frontier for international competition," and claims that the country is behind the West when it comes to research, technology, and hardware. Ye Cong of Wuxi-based China Ship Scientific Research Center, said that mining the metals found on the seafloor will “help us reduce the heavy reliance on foreign suppliers.” Even with the dominance that the Chinese have in some of the world's metals, they want to look at the next frontier to make sure they keep that advantage. Last week, the United Nations agreed to a High Seas Treaty that aims to set aside 30% of the world's international waters for conservation and provide rules for mining.