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In the short term, the Russia-Ukraine conflict will stimulate a sharp rise in oil and gas and other energy prices, which in turn will raise the cost
of copper production.
Copper mining, grinding, washing and other links of the machine operation requires a lot of electricity, so if the Russian-Ukrainian conflict triggers a sharp rise in energy prices, it will increase the cost of copper mining, making the current high copper price and high mine profit state tend to be "reasonable"
.
With the further escalation of the Russia-Ukraine conflict and the turmoil in global markets, risk aversion has further heated up, with the rise of gold and the US dollar suppressing copper prices, while aluminum and nickel, which are more fundamental, once again hit record highs
.
But on the other hand, under the conflict between Russia and Ukraine, Europe will face the impact head-on, and under the geopolitical threat, the already weak economic recovery may further slow down
.
If the conflict does not subside in a short period of time and global capital flows to the United States, the adverse impact on the economy will spread to the world, triggering global economic turmoil
.
In addition, if energy prices rise sharply as a result, further pushing up global inflation, it will also have a negative feedback on the economy, which is not conducive to the recovery
of the global economy.
If the global economy is affected, copper demand will also decrease, and eventually drag copper prices
.
