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title: Copper Supply Tightness Looms in 2024
description: Copper Supply Tightness Looms in 2024
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## [Copper Supply Tightness Looms in 2024](https://pages.supplyframe.com/ciq/copper-supply-tightness-looms-in-2024)

 Jan 23, 2024, 3:20:03 PM / by [Supplyframe](https://pages.supplyframe.com/ciq/author/supplyframe)

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| Ongoing domestic actions impacting Peruvian and Panamanian copper mines threaten the 467,000 metric ton surplus for 2024 projected by the International Copper Study Group. The First Quantum Cobre Panama mine remains shuttered, with an estimated 2023 copper output loss of some 40,000 metric tons, or about 10% of its annual production. While resolved, strikes and blockades in 2023 at the Las Bambas copper mine in Peru, which produces about 2% of global copper and is the world's second-largest copper mine, persist as a risk to supply assurance. Further supply disruptions and prolonged mine shutdowns will amplify copper raw material input costs for producing many passive and interconnect components, including capacitors, resistors, inductors, PCBs, and connectors.  |
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