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Natural News

IEA warns sulfuric acid shock could cut leaching copper output and leave a 25% supply gap by 2035

AI Market Summary
IEA warns an acute sulphuric acid shortage—driven by Hormuz disruption and China's export ban—threatens ~2.7mt of leaching-based copper output in the DRC and Chile. With 2025 supply losses already pushing refined markets into deficit and smelter treatment charges collapsing, the news reinforces a structural supply shock. Near-term volatility and tighter physical availability are likely to dominate copper spot and futures pricing.
Impact level
● High
Affected assets
NCCO724COPPER2USD/USDT+0.77%
AI Insight · NCCO724COPPER2USD/USDTAI Insight
▲ Bullish
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The IEA’s Global Critical Minerals Outlook 2026 says an acid supply shock has tightened the copper outlook, with the effective February closure of the Strait of Hormuz and China’s May-through-year-end ban on sulfuric acid exports constraining supply. The agency says the shortfall threatens about 2.7 million tonnes of leaching-based copper output in the Democratic Republic of Congo and Chile. It adds that 2025 disruptions already removed 1.5 million tonnes of mined copper, helping lift prices above $14,000 a tonne in May 2026, and it still projects a 25% supply gap in 2035.
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