LME WEEK 2020 - INTERVIEW: China driving copper price strength, Freeport CEO says

The actions of the Chinese government in the aftermath of the Covid-19 pandemic and its subsequent growth are the main driving force behind the recovery in copper prices, the chief executive officer of Freeport-McMoRan told Fastmarkets.

Speaking in an interview, Richard Adkerson said that while copper’s green credentials were important, they were not currently the key driver lifting the price of the metal higher.
“Green copper aspects are really significant, but it’s the future. There are increases in electric vehicles and charging stations, and increases in solar and wind power generation, all of which consume copper. But in the broader context of the total market today, that’s not the factor driving copper - it’s China,” he added.

Having stepped in to respond to and control the Covid-19 pandemic, the Chinese government then stepped in and stimulated its economy, Adkerson...

Published

Andrea Hotter

October 23, 2020

02:37 GMT

New York