Glencore declares force majeure on copper shipments from Altonorte smelter in Chile
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Glencore has declared force majeure on copper shipments from its Altonorte smelter in Chile due to production suspension. The duration of the suspension is unknown, but it could impact global copper supplies, which are already facing a deficit. The Altonorte smelter has a capacity of 350,000 metric tons annually. Copper prices have surged in the U.S. amid concerns over shortages, with the May contract reaching $5.3740 per pound. The situation was first reported by Bloomberg.
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