The world's largest metal hedge fund: copper shortage of 600,000 tons in the future

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Red Kite, one of the world's largest metal hedge funds, has also joined the ranks of investors who are betting that the copper supply gap will widen. It is expected that in the context of increased demand, lack of new mines and more disruption of supply, the world The situation of short supply in the market will increase.

David Lilley, co-founder of RK Capital Management LLC, predicts that copper will be in short supply for the first time in six years in 2017, due to factors such as strikes, technical interference, low grades of ore and adverse weather factors, mining companies need to achieve production targets. Very difficult.
Lilley said in his presentation that the supply and demand gap is expected to reach 327,000 tons in 2017, and will reach 266,000 tons, 270,000 tons and 600,000 tons in 2018, 2019 and 2020, respectively.

Copper has risen 27% in the past year as investment bets on a decline in supply, stable demand in China, and a more active market outlook in developed economies. The supply of two of the world's two largest copper mines, Escondida in Chile and Grasberg in Indonesia, has also contributed to the rise in copper prices.
The founder of Red Kite, Lilley, who has been in the copper investment industry for more than 30 years, said, â€œWhen copper prices are high, workers also want to share rising profits. At the beginning of this year, we have seen very serious copper mines in the world. Strike. I think the supply disturbance will continue."
Copper metal is known as the leading indicator for measuring the health of the global economy. The Chinese industry calls it "Dr. Copper." On February 27th, the London Metal Exchange's three-month copper closed up 0.1% at $5,934 per tonne. On February 13, copper prices hit $6,024/ton, the highest level since May 2015, and the three-year copper price has been sluggish in the next three years.
As for copper miners, the cost of opening new mines is still expensive and risky, which has led to a shortage of copper in the context of the huge global population stimulus. Red kite forecasts that China's copper demand will increase by 3.5% this year and by 3% in 2018.

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