A massive backlog of copper cargoes across Africa - ranging from concentrates and intermediates to refined copper - is putting a massive strain on the spot market supply chain and its impact is spilling over into contractual talks for 2022.
"My blister copper cargo from Africa should have departed in late July. I kept refreshing the schedule status, but there is nothing new. Our Chinese client is very annoyed, but what can we do except saying 'sorry' ?" a source at a major trading house told Fastmarkets this week.Although shipment delays are becoming a global...