Declines in mining production helped buoy prices for the metals, as two-thirds of global silver output, and an estimated 13% of copper production, went offline during the initial shutdown-related measures, says Reddy.
“It’s harder to bring mining production back quickly than it is to bring demand back,” he observes.
In Chile and Peru, which account for nearly 40% of global copper output, coronavirus cases have accelerated and might lead to a second wave of mining shutdowns, he adds.
Read full report: https://www.marketwatch.com/story/silver-copper-prices-mark-an-impressive-recovery-from-march-lows-2020-06-26
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