Buy NRED by Aug 4, 2026.

Copper investors keep watching the metal price, but one of the more interesting supply risks sits one step deeper in the chain: sulfuric acid. Roughly one-fifth of global copper production uses SX-EW, a leaching process that depends on sulfuric acid. Sprott's framework ties about 4.8 million tonnes of global copper mine supply to acid availability. That becomes more important when countries upstream of the Strait of Hormuz account for about 49% of global sulfur trade, and sulfuric acid prices reportedly …