Copying and distributing are prohibited without permission of the publisher
CESCO: China can absorb copper surplus, Antofagasta ceo says
April 07, 2014 - 15:03 GMT
China’s slowing economy will be able to absorb a copper market surplus in 2014 provided expectations for mine disruptions do not disappoint, according to Antofagasta's ceo.
The company expects a surplus of as much as 400,000 tonnes
this year, Diego Hernandez said in an interview with Metal
Bulletin for the annual Cesco industry week in Chile. A surplus
much higher than this, however, might be a different story. "If
the accumulated copper market surplus is around or below
400,000 tonnes, it certainly can be absorbed in China. But if
the surplus is twice that then it won't be easily absorbed by
the Chinese economy," he said. "But I don't think we will see a
surplus reach that kind of level." The strong mine
performance of 2013, which saw companies beat expectations and
operate with far fewer disruptions than usual, is unlikely
to become the norm, Hernandez said. "If all projects arrive on
time, we could have a surplus of 400,000 tonnes but it
All material subject to strictly enforced copyright laws. ©
Euromoney Institutional Investor PLC.
Please log in using your online subscriber details.
Your username will be your registered email address with Metal Bulletin.
If you aren't a subscriber yet, feel free to take a seven day free trial, or subscribe using the instructions below.
A standard subscription include one year's worth of news and prices. You can also upgrade to the full archive and benefit from more than 15 years of intelligence. Start your subscription today.
Taking a free trial will give you open access to Metal Bulletin online news, prices, archived content and email alert service for the next seven days. Start your free trial today.