bearish
Major Commodity Fund Outflows Continue in January
SUMMARY
- Glencore said last week that its copper production fell 12% in 2022.
- The miner and trader said it produced 1.06 million tonnes of copper last year and kept its 2023 outlook unchanged at around 1.04 million tonnes.
- Many miners revise their copper output lower, as extreme weather, labor issues, or lower grades have caused companies to deal with problems and limit the output accordingly.
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