CHAT Other Shortages (non-food) Thread.

ShadowMan

Designated Grumpy Old Fart
I'm not sure where the food thread went, but here is the latest on pork and beef, I work for a butcher shop. Some of the problem is restaurants are opening with higher capacity, fuel prices are going up and the packing houses are still only running at 50%.

This is exactly what going on in the meat packing Industry today.
#1 platter sliced Bacon reached a new all time high price with all pork items taking a 30 to 40¢ LB. increase across the board.
#2 In the beef market middle meat (Rib Eye loins, T-Bone loins, strip loins, & beef tenderloin) have all taken a drastic increase. Just to give you a idea Rib Eye Loins next week will cost us $3.25 more per pound than they did 3 weeks ago. All ground beef products are up 30 to 50¢ a pound across-the-board.

And that's why if it's ever possible you should buy your beef (and pork) locally grown and butchered in bulk. It's the best and most cost effective way, not to mention BETTER QUALITY! There's no question on where it's grown, how it's grown, who grew it, what's in it (no GMO, no antibiotics, no hormones, no crap) who butchered it and everything is cut and packaged just how you like it and ready when you need it. Pay once - cry once, be ahead of the curve and the shortages.

I know I'm a broken record on this subject, but once you make the cross over you'll never go back and you'll be ahead of the game.
 

Deanne

Veteran Member
Spray paint aisle is suffering. I went to three different stores and the shelves were low to bare. You might find the color you want only to find they have one can of what you are wanting. Canning supplies, I found jars but not lids or rings. Toilet Bowl and bathrooms cleaners are in a short supply around here. The Work's TB cleaner I haven't seen since last year.
 

ShadowMan

Designated Grumpy Old Fart
I would not be surprised if all the missing "STUFF" was MADE IN CHINA!!

Time to bring back manufacturing to the USA!! Screw china! Unless you want what is happening to Hong Kong to happen here to the USA, we need to bring back American manufacturing and tax the living crap out of anything from china!
 

Repairman-Jack

Veteran Member
Residing the shed with some T1-11, while not short it was $45 for 4x8 sheet, for 5/8 (well not 5/8 just under 5/8), local home depot had trex, lumber etc but good grief thank goodness we're not doing any projects like that this year.

Back in the beginning of April I stopped at the pool store to have hot tub water tested, while waiting I was talking to the guy running the test, asked about pools, hot tubs, solar covers, he laughed and said all are back ordered, and solar covers are extremely difficult to obtain. Also asked about chlorine shortage, he said they were allowed to order what they ordered last year but expects by end of pool season it might be difficult to obtain.

Tonight we hit the Sam's in OH and picked up one of the last 2 buckets of 3" chlorine tablets, not sure if they'll get more.
 

marsh

On TB every waking moment
I read an article on Zerohedge that Costco paper towels secretly inflated by having 20 fewer towels per roll. I know we are seeing this in other products. May mean we have to purchase more if our consumption is the same.
 

night driver

ESFP adrift in INTJ sea
Other than some tp that comes from canada, none is imported so I'm calling bull shat on that one.
Mostly TP and some other tray sorts of things are pulp milled from pup-wood harvested by Nekoosa Edwards in Northern NY and points east of Massena.
 

night driver

ESFP adrift in INTJ sea
Going to have to take a ride fown I-71 a short bit to see how the coiled steel storage point looks.

There is a pickling plant in the area and they have ROWS of coiled steel in their inventory.

CLE is still a pretty fair Steel Town. i'm gonna have to snoop a bit. LTV and J&L are still here. ARCELOR MITAL is here as well.
 

marsh

On TB every waking moment

print-icon

"There Is No Shortage?" Train Loads Of Lumber Stacked As Far As The Eye Can See

SATURDAY, MAY 01, 2021 - 06:00 PM
One of the most important things we've learned over the past year is the vulnerability of global supply chains. Most notably, supply disruptions of lumber have catapulted prices to the moon.

The narrative touted in the public domain is that COVID-19 sparked a dramatic underestimate in capacity by sawmills early in the pandemic as the Federal Reserve slashed interest rates to zero, sparking a housing boom. The influx of demand outpaced supply and has caused lumber prices to jump 340% from a year ago, according to Random Lengths.

In terms of output, the lumber industry is controlled by just a handful of firms, including Weyerhaeuser Co., Georgia-Pacific LLC, West Fraser Timber Co., Ltd., among others, which makes it easier for capacity to be controlled.

Maybe there's more to the lumber story that we're not being told and should be investigated more in-depth by journalists.

YouTube account "Ken's Karpentry" recently published a video of "huge quantities" of lumber sitting and not in lumberyards. The exact location of the video is not mentioned but could be near Lyndonville, Vermont.


The narrator in the video, perhaps it's Ken, but we're not sure, explains that a train depot has been transformed into a makeshift lumber yard. He said train loads of lumber coming out of Canada are offloaded here and then transported by tractor-trailer to lumberyards across the country.


He said, "I am astounded by how much lumber is here, and I am wondering why there is such a problem at lumber yards." He added the facility stretches 3/8 of a mile.

View: https://youtu.be/iY3zjaeof8w
9:03 min

The video has more than 300,000 views and over 1,300 comments in just a few weeks.

One person said, "Gee, could it be to keep the price gouging and profits up?? This whole excuse that "it's due to covid" b*llsh!t has got to stop!"
"It's too bad there are no investigative reporters left in the world. This lumber story needs to be investigated and exposed," some else said.
Another person said:
"This is what happens when a few companies own the entire market."
And this person makes an interesting point:
"There is no lumber shortage. It's just Weyerhouse and GP wanting to drive up profits."
So could the lumber industry, controlled just by a few players, be pulling the playbook straight out of the diamond industry to limit supply to drive up prices?
 

marsh

On TB every waking moment

Soaring Copper Prices Send Crippling Shockwaves Across China's Economy

FRIDAY, APR 30, 2021 - 08:40 PM
As if China didn't have (soaring) debt, (shrinking) demographic and (pent up) default nightmares to struggle with every night (and realistically, every day) it can now add one more splitting headache to its rosters of economic challenges: soaring prices in the one commodity that is absolutely critical for China's rapidly growing economy. Copper.

While commodity and copper bulls have enjoyed a tremendous start to the year with the price of copper surpassing $10K earlier this week and set to make new all time highs, Copper’s eyewatering price - which Goldman expects to keep rising for years due to an unprecedented supply/demand imbalance - is causing ripples of stress for industrial consumers in China, the world’s largest market for the metal. As Bloomberg reports, "some Chinese manufacturers of electric wire have idled units and delayed deliveries or even defaulted on bank loans, according to a survey by the Shanghai Metals Market." Meanwhile, end-users such as power grids and property developers have also been pushing back delivery times, unable to pay for the metal, while producers of copper rods and pipes saw orders slump this week, said the researcher.

Copper's rally - which is fueled by soaring global demand resulting from trillions in stimulus, near-zero interest rates and the global economic recovery from Covid-19 - sent the price above $10,000 a metric ton on Thursday for the first time in a decade, making it among the best performers in a scorching surge in metals prices.

"Domestic copper users are feeling the pain right now after the recent surge caught them off guard,” said Fan Rui, an analyst at Guoyuan Futures Co. “Electric wire producers are being hit the most, with smaller plants keeping run rates low as the spike is seen slowing the pace of investment by power grids."

In a clear indication that the laws of supply and demand still work somewhere, as the price of copper exploded, Chinese spot purchases of copper have weakened significantly amid the copper rally...


... while the latest Chinese manufacturing PMI index slipped in April and the services sector also weakened, suggesting the economy is still recovering but at a slower pace. And while China - the biggest end user of physical copper may be approaching its demand limit - analysts at banks including Goldman Sachs Group Inc. are predicting further gains for the metal as the global economy picks up pace.

To cynics who still remember Goldman's $200 oil price target in the summer of 2008, Goldman's copper euphoria is just a way to offload its own exposure to naive clients.

Sure enough, Bloomberg notes that in a sign of potential weakness in Chinese physical demand, the spot contract traded at a discount of as much as 215 yuan a ton ($33) to Shanghai futures’ prices this week, the widest in about 10 months. The appetite for imports is also low, with the Yangshan copper premium, paid on top of benchmark LME prices, slumped to the lowest since data were first published in 2017.

Furthermore, there is a precedent for demand destruction in China amid higher prices, according to BMO Capital Markets analyst Colin Hamilton. Hamilton pointed to 2006 where prices recorded the largest January-April gain on record and came amid a credit-fueled sudden acceleration in developed world demand.
“2006 was the only year this century where annual Chinese copper consumption fell on a y/y basis, as marginal buyers simply stepped away,” Hamilton said in a note, hinting that 2021 may be the second such year unless copper prices don't stabilize.

Higher price levels also could see marginal buyers pull back in the near term and look to substitute in the medium term.

“$10,000/t copper now is the biggest danger to future demand use, particularly in these nascent trends where material selection is still evolving,” said Hamilton. “There is no doubt copper may be best for electrical or heat transfer performance, but with the ratio to aluminium now well above the 3.5:1 level where we consider substitution accelerates, the risk is clear.”

Copper fell 0.8% to $9,806 a ton on London Metal Exchange on Friday after reaching $10,008 on Thursday, the highest since February 2011. Aluminum also fell, while nickel rose.


While physical demand may be reaching its limits, the financial demand for copper remains strong as speculators - who never plan to accept physical delivery - keep pushing the price higher on the back of generous leverage and trillions in central bank liquidity. The question is when does this artificial push higher reach its limits, and will the upcoming crash in copper be similar to the plunge in oil in the late summer of 2008, when brent collapsed from $150 to $30 right around the time of the Great Lehman Delevearging.

Until then, we eagerly await for the new round of horror stories involving rehypothecated Chinese copper which as a reminder, is not only the most important commodity propping up China's economy but also the key anchor behind hundreds of billions in Chinese Copper Financing Deals or CCFDs which we have discussed extensively in the past. One place we are closely watching is Chinese brokerage Dalu Futures which in late February amassed a $1 billion long position in copper contracts within just four days...
 

ginnie6

Veteran Member
Went in scam mart this past week looking for a white t-shirt for the man child. His prom was Friday night and he needed one. Its not something he normally wears but he decided it was a must have. I was absolutely shocked at the lack of men's underwear. They had no white shirts in any size except 3x, 2 or 3 packs of medium colored t-shirts, and the boxers that he likes I scrounge and found one 3pack. The whole 2 aisles, both sides, were basically empty.
Then I decided to check the women's section. I noticed some empty spots but nothing as drastic as the men's section.
 

greysage

On The Level
Have needed a new mattress for probably 2 years. Thought about replacing it Fall of 2019. Put it off. Thought about it again a couple times in 2020. Finally decided to do something last night. Not sure what I was waiting for. Price certainly didn't come down. It's $80 more than when I looked 18 months ago. $50 more than last Summer.

Supposed to be here in a few days. Glad I finally did it. Besides feeling uncomfortable when trying to sleep, I also had a strange sense of urgency to do it now.

No shortage, just put it up as another reminder that you may want to get something now if you think you're going to need one.
 

Repairman-Jack

Veteran Member
I had mentioned just a few days ago picking up one of the last two 40LBS buckets of 3" chlorine tablets, as of yesterday Sam's and Costco are sold out and any pool supply store that has them (usually smaller containers) are limiting purchases. Local news had done a story on the the shortage and caused a run on the stores.
 

vestige

Deceased
This post may not directly address shortages, time will tel, but yesterday I bought two 50# boxes of nails. I also had the store order two more 50# boxes. Today I called the owner and told him to double the order ie. order a total of 200# of nails.

He told me they had gone up $3 a box since yesterday. Let's see if he can even get them.

On the way home yesterday I stopped at an electrical supply house and bought a bunch of electrical breakers. (Siemens brand) The supply house was out of 30 amp, two pole breakers and said they had been on order for several months.

Parts are getting tight
 

20Gauge

TB Fanatic
PVC pipe & fittings, at least in this area, are hard to find and expensive. We've returned from our winter trip, and all know the severe cold snap in south Texas played havoc for many. We had our water shut off, as we always do when we travel, but what water was left in the p-traps and risers to faucets, froze and of course broke the pipes.

PVC pipe has returned but fittings are still scarce, especially the common ones, t's, L's, unions, etc. Hot water pipe, CPVC and fittings, is practically non existent. All HD's and Lowe's in the north Houston area have none.

I keep a tub of spare fittings in the shop and have used what common ones I had. S-I-L is a plumber and has given me most fittings I needed, but 3/4" CPVC pipe he doesn't have. Guess a road trip is in the near future, pipe hunting.

Glad we have the TT parked in the back for showers.
I now have totes with the stuff we used for the house. Probably don't have everything, but I can still do a lot.
 

20Gauge

TB Fanatic
We are looking at a bit of landscaping for the office and decided to use some concrete rounds. Didn't want to make them and they are tons of them around...... wrong.

They are all gone and the stores can tell when they will get more.
 

anna43

Veteran Member
As preppers we need to (1) look at what we use daily, annually and likely will need within 5 years and stock up and (2) look at work arounds for things we cannot buy. For instance, if you use paper towels switch to rags that can be washed and used again. Also use cloth instead of paper napkins, sanitary pads, toilet paper and baby diapers. Now I'm not saying not to buy and use if you can find the paper products, but I'd want to have the cloth items in my preps for when paper is no longer available.

Personally I'd rather spend my money today stocking up on things I cannot make or substitute such as shoes, boots, coats, socks, underwear and haunt used stores for regular clothing items. Don't wait to replace appliances that are near the end of their life span -- if you can get them. I had to replace my water heater last year and was fortunate the plumbing company had one in their warehouse. Building supplies as mentioned above are in short supply so buy what you can when you can find them. With my limited budget it makes more sense to buy a box of screws or nails with my few extra dollars than a package of paper towels. I can't think of a substitute for nails but have an abundance or rags.
 

CarolynA

Veteran Member
CAR PARTS
We are currently working on 4 vintage cars that we have had in storage. The parts house has been scrambling around & making calls to get ordinary parts. Battery prices are insane!

BUILDING MATERIAL
Daughter in-law is a builder and she is having to wait weeks, or months, for things like windows and appliances. Here in my neighborhood you have to take whatever appliance is on the showroom floor or you will be waiting for months to get one.

CLOTHING
The thrift stores have plenty :) It's been 15 years since I've been in a mall.
 

night driver

ESFP adrift in INTJ sea
Yesterday: Catfood at WMART. Total 12 cans on 25 ft of 5-levels of shelves.
Cat litter. I got the last pair of lightweight containers, and there were only 25 containers of ANY brand when I left.
 

Laurelayn

Veteran Member
One of my jobs is auditing used car inventories for insurance companys. I do 5 big lots once a month and compared to last month inventories are down.
I was shocked at the lack of new car inventory at the 2 dealers I did today, the lack of inventory overall is really bad.
These are big dealerships in my area. all of the cars have about 10 ft. of space in between them and the peripheral stock is PARALLEL PARKED around the edge of the dealerships, I have never seen that before.
The one big Ford dealer I did had probably less than 50 new vehicles (I didn't count, but it is obviously extremely low)
One Nissan dealer I drove by looked pretty well stocked. They had their new cars parked around the periphery though, which is unusual.
I have been getting a deja'vu kind of feeling a'la 2007.
I believe what is coming has the potential to be a hell of a lot worse, by many magnitudes.
 

chumly2071

Contributing Member
Couple quick items from friends... One does small steel fabrication projects, and plain A36 steel is $1.42 per pound, and expected to go up again next week. Also assuming the plate/tube/whatever is available.

One is a warehouse manager for a fastener supply company. One of the largest wholesalers of metric fasteners said generic plated M10 flat washers won't be available until maybe September. Same friend said his 2019 F150 is now worth $5k more as a trade in than he paid for it.

Former employer of mine has had to resort to importing plate steel by truck from their Canadian headquarters due to price and availability here in the Midwest.

Another friend in the chemical industry (they make chemicals and additives for places like Mobil) said that they are having huge issues with container shipping, and especially right now tanker and normal OTR freight shortages. They also are fighting issues with having bought, paid for, and scheduled space on container ships does not mean their freight is actually getting onto ships. Steel for barrels and totes is also causing them issues, both in availability and being shipped in.

Last one has ties to a multi site OTR truck fleet management/leasing/service company. Every site was told to order right now all the R134a refrigerant they anticipated a need for, for this year, and to double that order. Their corporate office has seen some sort of evidence of a shortage of refrigerant coming soon for this year.
 

Jubilee on Earth

Veteran Member
One thing I definitely noticed was hat the garden centers all seem to be pretty sparse. It’s been a few years since I’ve done any landscaping or flower planting. Back in 2017 and 2018 I was always at the Home Depot, Meijer, or local nursery picking up landscaping stones, potted plants, pavers, fencing, whatever. By spring they had all their merchandise out in full glory. I went this week to both Home Depot and Meijer, and man... it was sad looking! Barely anything available. I was stunned, and went home with nothing.
 

rob0126

Veteran Member
People have been talking about Tractor Supply shortages.

On that hunch, we picked up some pet food and found out there was 1 bag left of what we get. (4health)

The cashier said they dont know when they are going to get another shipment in.

The Supply Chain system is crumbling. Get it while you can if you got the funds to do it.
 

Redcat

Veteran Member
I had three items in my cart at Walmartpetrx.com from last week. I went to get them ordered last night, all out of stock.

So I started checking stock on similiar items, all out of stock. I was able to get one item on Chewy.com. It's getting bad out there.
 

33dInd

Veteran Member
One thing I definitely noticed was hat the garden centers all seem to be pretty sparse. It’s been a few years since I’ve done any landscaping or flower planting. Back in 2017 and 2018 I was always at the Home Depot, Meijer, or local nursery picking up landscaping stones, potted plants, pavers, fencing, whatever. By spring they had all their merchandise out in full glory. I went this week to both Home Depot and Meijer, and man... it was sad looking! Barely anything available. I was stunned, and went home with nothing.
Wife found everything she wanted to plant at Home Depot. Lowe’s and TLC. Except

pentas. Not a one to be had
 

Cyclonemom

Veteran Member
I had three items in my cart at Walmartpetrx.com from last week. I went to get them ordered last night, all out of stock.

So I started checking stock on similiar items, all out of stock. I was able to get one item on Chewy.com. It's getting bad out there.
Along pet lines, vet suppliers have very little (or none at all) Euthasol, the drug to euthanize animals with.
 

ChicagoMan74

ULTRA MAGA

Chinese Aluminum Price Soar To 11-Year Highs As Decarbonization Efforts Slash Energy To Smelters

FRIDAY, APR 16, 2021 - 09:20 PM
Chinese aluminum prices moved higher Friday, hitting an 11-year high, exchange data showed, as Beijing embarks on the road to decarbonization, a move that has reduced energy to the power-hungry smelting hub located in Inner Mongolia, even as new capacity came on online, according to Mining.com.

The benchmark price for aluminum on the Shanghai Futures Exchange stood at 18,025 yuan ($2,764) per metric ton, an 11-year high.



In terms of dollars, SHFE aluminum futures printed at 2,800 per metric ton, a critical resistance level dating back more than a decade ago.


Analysts believe the price surge in aluminum is due to Bejing's curb on aluminum output in the Xinjiang Uyghur autonomous region to reduce carbon dioxide emissions.

According to Mining.com,




China's two-decade run as an aluminum juggernaut is running out of road. Decarbonization initiatives have reduced power to smelters as some are having trouble keeping up with demand as the country's manufacturing sector experiences a growth spurt.

Domestic supply-chain stress are certainly developing in China as green policies start to kick in.

... and the one question we have is how will base metals react if China's credit impulse begins to slip?


A slowdown in credit creation would have dire consequences for commodity prices that have experienced a rip roar rally for nearly a year since the pandemic began following global central banks and countries pumping trillions of dollars into the respective economies.
Pardon my french but cuck fhinese aluminum. Paper thin cheap POS product.
 

DazedandConfused

Veteran Member
I was talking to one of our warehouse guys last night at work. We have a ever growing parts shortage list. he told me we have 40 containers full of needed parts setting at the Port in Charleston SC but no trucks to haul.
 

Publius

TB Fanatic
Lately wife has been coming home with loads of toilet paper and I said we have enough but she bought more home, I'm the one putting it away and showed her what we have and not get any more we have enough.

Yesterday I was in Walmart getting some odds and ends, mostly car stuff and was looking at fishing supplies which is the next isle over from the sporting goods register and hear one guy asking a 300 magnum ammo and that got me thinking so I was done looking and went around and started up a conversation with the two Walmart workers there and found out they only have 12Ga and 28Ga ammo in limited supply and it's been like that for months, one of them was telling me he has been waiting for 30-06 and has not seen any center fire rifle ammo show up for more than 6 months.
 
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mecoastie

Veteran Member
No mortar tubs at any Home Depot north of Boston. Had the guy check today because we use them to catch rabbit poop and I wanted a couple more as spares. They also had almost no garden tools. I need another rake.
 

nomifyle

TB Fanatic
I have been getting a deja'vu kind of feeling a'la 2007.

What does this mean, my life was still reeling from Katrina and I have no clue what this means.

God is good all the time

Judy
 

Dozdoats

On TB every waking moment
Big belt knives? Seems to be a lot of stuff out of stock in the various online catalogs. With Cold Steel changing hands, that seems to have had some influence as well. Their A2 steel Laredo Bowie was what got me looking... sold out at Atlanta Cutlery, the expected incoming order is sold out, next order, no promises.
 

night driver

ESFP adrift in INTJ sea
Remains to be seen whether they're KNIFE or EDGED TOOL people but they have CERTAINLY decided they have a fricken GOLD MINE that they landed on.

569 for yer Bowie and 700+ for a Kriss???

WHOOO WHEE Doggies!!!
 

moldy

Veteran Member
Minor thing, but in Walmart the other day I was looking at dayplanner type calendars. I buy (usually) 2 year ones with BIG print. Usually price is less than $3, now closer to $7. Plastic bins (Sterilite type) were very thin (we use these for seedlings).
 

Texican

Live Free & Die Free.... God Freedom Country....
Bought from Home Depot treated 2x6x8' for plates and studs on the addition we are doing. The 2x6x8' cost $9.98 two weeks ago. I returned 6 that were not usable and bought six more which cost $10.98 each which is a $1 increase (10%) in two weeks. This was on Thursday at the Paris Texas Home Depot. Home Depot was well stocked in lumber and hardware and paint. Will have to buy more paint for the addition and right soon.

Had to go back to Paris to get a new cell phone for the other cell phone essentially died. I checked with AT&T about a new phone and it would take nearly a week to get one shipped in which was too long. I checked with the Paris AT&T store about buying a new phone and they told me what they had in stock. Made the trip today and the Paris AT&T store (Cellular World) informed me that they could not just sell me a phone. I got on the phone with AT&T foreign Customer service and got there normal run around. Been with AT&T for over a decade and the service has deteriorated severely. Talked to the manager again at the Paris AT&T store and she sold me a phone which I was thankful for and so told her. Will send a compliment for her to AT&T.

Shopped Walmart for a couple of items and the store appeared to be well stocked. Will be ordering more stock from Sam's and have it delivered.

Heard that HCH (Powdered chlorine) is getting in short supply. Will need to buy more.

The list of items to buy continues to grow.

Buy now while you can.

Texican....
 

marsh

On TB every waking moment

At Record Highs, Copper "Is The New Oil" & Could Be A Double From Here

SATURDAY, MAY 08, 2021 - 11:00 AM
On the heels of record highs in Iron Ore and Steel earlier this week, as commodity demand soars on the back of economies emerging from COVID lockdowns (demand) and various supply chain/operational issues (supply); copper prices surged to an all-time high this morning as Chinese investors unleashed fresh demand following a five-day holiday.


Source: Bloomberg

Bloomberg Intelligence strategist Mike McGlone said that “the reaction of copper to $10,000-a-ton resistance may set the inflation vs. deflation tone for years”

As Mining.com reports, the reopening of major industrial economies is sparking a surge across commodities markets from corn to lumber, with tin climbing above $30,000 a tonne for the first time since 2011 also on Thursday.

Copper has gained 28.1% since the end of last year and is up 114.9% from its 2020 low, hit in March of that year amid the global economic fallout as countries locked down their populations to contain the spread of covid-19.
“The long-term prospects for metals prices are ‘too good’ and point to higher prices in the next few years,” Commerzbank AG analyst Daniel Briesemann told Bloomberg.
“The decarbonization trends in many countries — which include switching to electric vehicles and expanding wind and solar power — are likely to generate additional demand for metals.”
Trading house Trafigura Group, Goldman Sachs, and Bank of America also expect copper to extend gains.
“Copper could spike to $13,000 a tonne in coming months, partially over low inventories,” Bank of America said.
“Copper prices will remain strong as a continued rebound in global PMIs bolstered investors’ bullish sentiment,” Citic Futures Co. said in a note.
On the supply side, Peru reported a 19% jump in March copper output, potentially offering some relief to tight global supplies, but a bill to dramatically increase taxes in Chile, the biggest copper-producing nation, threatens to curtail future output and supercharged the metal’s rally even further.


And as OilPrice.com's Tsvetana Paraskova notes, surging demand and insufficient supply of new copper projects could result in copper prices jumping to $20,000 per metric ton in a few years, double the current price of around $10,000 per ton which is the highest in a decade, analysts say.

Soaring demand for critical minerals to support the energy transition, including copper, has already made copper one of the hottest metals this year, with prices jumping to $10,000 per ton, double from the pre-pandemic levels due to the global push toward decarbonization and government support for electric vehicles (EVs) and renewable electricity generation.

Copper will be the key metal in the energy transition. But expected supply from existing mines and projects under construction is estimated to meet around 80 percent of the copper the world will need by 2030 in a scenario consistent with climate goals, the International Energy Agency (IEA) said in its new report ‘The Role of Critical Minerals in Clean Energy Transitions’ this week.
“Electricity networks need a huge amount of copper and aluminium, with copper being a cornerstone for all electricity-related technologies,” the IEA said.
However, the copper projects are seeing a decline in resource quality over time. For example, the IEA says, the average copper ore grade in Chile declined by 30 percent over the past 15 years. Investments in copper projects are also lagging behind the expected surge in demand.

Video on website 3:03 min

That’s why it’s no surprise that David Neuhauser, founder and managing director of U.S. hedge fund Livermore Partners, told CNBC this week that “copper is the new oil.”
“I think copper is the new oil and I think copper, for the next five to 10 years, is going to look tremendous with the potential for $20,000 per metric ton,” Neuhauser told CNBC.
A few days ago, Bank of America said in a research note that if inventories of copper deplete, the price of the key energy transition metal could hit $20,000 per ton as early as 2025.
 

packyderms_wife

Neither here nor there.
I would not be surprised if all the missing "STUFF" was MADE IN CHINA!!

Time to bring back manufacturing to the USA!! Screw china! Unless you want what is happening to Hong Kong to happen here to the USA, we need to bring back American manufacturing and tax the living crap out of anything from china!

biden and his deep state cronies are not going to allow manufacturing to come back to the US, in fact if anything anything that is left will soon leave as well.
 
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