The company Codelco has made disappointing forecasts for the second half of the current year
He spoke to commercial Director of the Chilean company Codelco Roberto Alfeld. It is the largest company in the world, producing copper. Roberto made their predictions for the second half of 2019. He believes that global copper prices will cease to decline. Moreover, in the second half of the current year they will start to grow. The reason he calls the growth in apparent consumption of refined copper. So the global figure will add about 2.3%. Interestingly, the enterprise itself has a host of additional orders. This refers to the period 2019−2020 But production volumes remain unchanged.
The company said that they expect the deficit. First of all, it will affect the copper concentrate market. This year his production to decline. The reduction will amount to about 0.5%. Mean in comparison with the previous year. This is explained by several reasons. The first consists of regular rains. They actively went to the North of the country where frequent droughts. The rains have already caused damage to local mines. In addition, Peru has suspended the work of a number of companies. This is due to numerous protests of local residents.
Experts also note that in the second half to earn new power. These are the ones that are located in China and smelting copper. This will lead to increased demand for the necessary raw materials. With shortages on the world market agrees with Rio Tinto. The Australian company believes that there are all preconditions for it. The highest demand will be observed in the energy sector. Also the copper demand in the field of electromobility. Because the company plans to accelerate and quickly realize your copper project.