Just read this somewhat dated Newbie vs Oldie battle here.
But I think Newbie is right. If copper price halved SFR would survive. SFR is well and truly in the bottom quartile of production costs. Most of the worlds' tons are now very close to marginal. If copper price halved, into some global deflation event, then production costs would fall similarly. Alternatively, if copper price halved and production costs stayed the same, then barely any copper would be produced, and I don't see any substitute for copper.
The trend of SFR's falling production costs is evident enough of the elasticity in the numbers. Everything is relative.
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8 | 31360 | 6.740 |
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8 | 33067 | 6.720 |
Price($) | Vol. | No. |
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