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Summary: Copper demand has predictably declined in 2020 due to mandatory factory shutdowns in China and overall global economic contractions related to COVID-19. Economies around the world have now begun expanding production, and while economic output remains lower than pre-COVID, demand for copper and other commodities has been increasing since March. Less well understood is the unprecedented supply impact of the pandemic, particularly in copper and other raw materials that require significant human labor for production. Major copper producing countries such as Chile and Peru are still reeling from a growing caseload of Coronavirus. Large-scale lockdowns certainly impact demand but also create production headwinds for raw materials. Supply chain disruptions are creating shortages as demand is recovering, and we will discuss these dynamics in the copper marketplace while drawing similar comparisons to other parts of the commodity markets. More...