Low inventories should help limit stock builds in copper, zinc and nickel that may materialize due to the decline in demand resulting from the Covid-19 pandemic, according to the chief executive officer of Glencore.
The company estimates that 4% of global copper supply for this year forecast prior to the virus has been lost due to shutdowns and cuts created by the virus, excluding smelting/refining and direct use scrap losses, Ivan Glasenberg said."Low above-ground inventories at the start of the year - relative to previous economic cycles -...