A critical supply shock is unfolding in the global copper market, centered on the Democratic Republic of Congo (DRC).
In April 2026, major copper producers in the DRC saw a wave of cancellations for sulfuric acid orders. This isn't just any chemical; it's an essential ingredient for a huge portion of the country's copper output. The cancellations signal that mines may soon have to slow down or even halt production, a serious development for one of the world's top copper suppliers.
This crisis didn't happen overnight. It's the result of a perfect storm of global and regional problems. First, a conflict in the Middle East led to the shutdown of the Strait of Hormuz in early March. This single chokepoint controls nearly half of the world's seaborne sulfur, the primary raw material for sulfuric acid. As a result, sulfur and acid prices skyrocketed, and suppliers began declaring force majeure, a legal step to get out of contracts due to unavoidable circumstances.
Second, just before this global shock, the DRC's neighbor, Zambia, implemented new controls on its sulfuric acid exports in February. This move, aimed at securing its own domestic supply, effectively tightened the regional market and cut off a vital source for Congolese mines.
Third, adding to the supply woes, heavy rains in March washed out the main transportation corridor between the DRC and Zambia. This created severe logistical bottlenecks, delaying shipments and raising the risk for time-sensitive deliveries of chemicals.
Finally, reports emerged that China, the world's largest exporter of sulfuric acid, was planning to halt its exports starting in May. This news removed a key potential back-up supplier from the market, leaving DRC producers with very few options.
This matters so much because roughly half of the DRC's copper is produced using a method called SX-EW, which is highly dependent on sulfuric acid. The sharp rise in acid prices alone could make some mining operations unprofitable. The order cancellations are a direct consequence of this multi-layered crisis, putting a significant portion of the global copper supply at risk.
- Glossary
- Sulfuric Acid: A strong acid that is a key industrial chemical. In mining, it's used to leach copper from crushed ore, dissolving the metal so it can be recovered.
- SX-EW (Solvent Extraction-Electrowinning): A two-stage process to extract and purify copper. It is very efficient for certain types of ore but requires large quantities of sulfuric acid, making it vulnerable to supply disruptions.
- Force Majeure: A clause in contracts that frees both parties from liability or obligation when an extraordinary event or circumstance beyond their control, such as a war or natural disaster, occurs.