Copper and cobalt produced by companies, including Glencore and CMOC, are stranded in Kolwezi, Democratic Republic of Congo (DRC), due to a truckers strike that started in late October, four sources with direct knowledge of the matter said.
Already 2,700 trucks carrying around 89,000 metric tons of copper are stuck in Kolwezi, two of the sources said.
A Reuters survey this month showed expectations for a small copper market surplus of around 112,000 tons this year, which could become a deficit if the strike is prolonged.largest copper producer, accounting for 10.4% of 22 million metric tons of global mined copper supply last year, according to the International Copper Study Group. The country is also the world's largest cobalt producer.
"It's affecting most of the supply routes. I can't say cargo is completely blocked, but most of the mines aren’t able to go and offload or pick up the loads."
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