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Indonesian copper shipment delayed after Grasik closure
Indonesian copper shipments are facing significant delays after the closure of the Grasic smelter in Indonesia due to a sudden leak in the boiler during the weekend, which led to the factory's shutdown for repairs and technical assessments. This outage adds pressure to the global copper market, especially as prices have risen to over $14,000 per ton on the London Metal Exchange for five consecutive days, amid tight supply and the highest short-term price premiums since October of last year. The impact of this shutdown on supplies is expected to continue until 2028, with the Grasberg mine operating partially, while the Monywa plant is scheduled to resume operations in September to process copper ores.
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