The Covid-19 pandemic, which continues to ravage the country, poses unique challenges, but has also opened new avenues for demand growth, major market participants noted during a virtual panel discussion.
Organized by the American Copper Council, industry participants across the copper chain took part in a lively panel moderated by Fastmarkets’ special correspondent Andrea Hotter on Thursday November 12, discussing the impact of Covid-19 on the US copper industry.
Copper miner Freeport-McMoRan had seen a "big hit" on demand in the second quarter, but has since seen a “remarkable recovery” in the third quarter, especially in the construction sector, said Stephen Higgins, senior vice president and chief administrative officer of Freeport-McMoRan.
Copper wire and cable maker Southwire saw its volumes fall by 25-30% in March-April, but demand has recovered since mid-summer, according to Charlie Murrah, Southwire’s executive vice president.
“The residential construction demand is very good,” Murrah said, adding...