• The positive trajectory of copper prices bodes well for Zambia
• This offers a unique opportunity for Zambia to leverage its copper resources amid global supply constraints and rising demand.
• The focus on navigating challenges and capitalizing on market trends will be paramount for stakeholders in the copper industry.

Copper prices on the London Metal Exchange have climbed to a 13-month high, fueled by compelling economic indicators from China and significant global demand.

And an Investment Analyst says Copper’s ascendancy to a remarkable 13-month high is likely to enhance Zambia’s exports of the commodity and strengthen the Kwacha.

Munyumba Mutwale told Money FM News that this positive trajectory offers a unique opportunity for Zambia to leverage its copper resources amid global supply constraints and rising demand.

Mr. Mutwale stated that going forward, Zambia needs to focus on navigating challenges and capitalizing on market trends as this will be paramount for stakeholders in the copper industry.

“The positive trajectory of copper prices bodes well for Zambia, especially in light of the Export framework, which could enhance copper exports and strengthen the Zambian Kwacha,” Mr. Mutwale noted.

He however noted that challenges such as drought-induced load shedding and the potential impact of global economic shifts on copper output and prices still remain.

“The Zambian economy faces hurdles from sectors in recession and external pressures such as oil prices and the need for electricity imports. Yet, the landscape holds potential for growth, spurred by debt restructuring and a global appetite for copper,” he stated.

According to Reuters, Copper prices soared on Wednesday to their highest in seven months after Chinese smelters, which process half of the world’s mined copper, agreed on a joint production cut.

Benchmark three-month copper on the London Metal Exchange touched $8,799 a metric ton, the highest since 1^st August, 2023.