The Sulphuric Acid Crisis

Published on 10 Jun, 2026

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China's sulphuric acid export ban is sending shockwaves through global commodities. While initially viewed as a domestic chemical policy, the May 2026 halt directly threatens the core of global copper and silver production. Chile, the world's top copper producer, sources 37% of its acid imports from China. With up to 1.1 million tonnes of copper at risk, the ripple effects are severe. Because 30% of global silver is a by-product of copper mining, this creates a hidden contagion risk. With copper up 46% YTD and silver soaring 115% YTD, how should investors position themselves?