Copper price to remain strong throughout 2020, Vale says

Brazilian miner Vale is expecting copper prices to remain at high levels through the remainder of 2020, because it sees strong signs of demand resilience amid expectations of reduced supply, especially from South America, the company’s top executives said on Thursday July 30.

“We are firm believers in the copper price uptrend,” chief executive officer Eduardo Bartolomeo told analysts and investors during Vale’s second-quarter earnings conference call.
“Demand continues to be robust, and will remain so, while supply is being challenged by Covid-19 [restrictions], particularly in South America,” base metals division head Mark Travers added.

The copper cash London Metal Exchange Daily Official price reached $6,475 per tonne on Wednesday,...

Published

Renato Rostás

July 30, 2020

19:15 GMT

São Paulo