- Write by:
-
Tuesday, January 16, 2024 - 23:04:43
-
128 Visit
-
Print
The state-run Chilean Copper Commission (Cochilco) said on Monday it was raising its projections for 2024 copper prices to $3.85 per pound, up from $3.75.
In a statement, Cochilco said it was raising the estimate due to “factors like the normalization of monetary policy in the United States,” but mostly due to demand from the energy transition and electric vehicles.
“All of these are good conditions that allow us to foresee good expectations for price,” the report said, adding that it expects average prices of $3.90 in 2025.
The report said it expects Chilean copper production to rise by 5.7% to 5.63 million metric tons in 2024, largely due to more production from Teck’s Quebrada Blanca II project, and 6 million tons in 2025.
The agency foresees global copper production rising 5.8% to 22.79 million tons in 2024 and 23.50 million tons in 2025. Global demand is expected to rise 3.2% to 26.13 million tons in 2024.
Cochilco is expecting a global copper surplus of 176,000 tons in 2024 and 170,000 tons in 2025.
Short Link:
https://www.miningnews.ir/En/News/627872
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
A key measure of Chinese copper demand just sank to zero, another indication that global prices are not balanced with ...
Canadian miner First Quantum Minerals (TSX: FM) believes it will be able to take the already mined 121,000 tonnes of ...
Canadian miner First Quantum Minerals said on Tuesday that it has cut its debt by $1.14 billion in the first quarter.
Chile is expected to produce a record 5.8 million metric tons of copper in 2025, the state-run Chilean Copper Commission ...
Copper traded near $10,000 a ton, hitting a new two-year high on its way, as investors continue to pile in on a bet that ...
A Native American group has asked all members of a US appeals court on Monday to overturn an earlier ruling that granted ...
Codelco is exploring more partnerships with the private sector as Chile’s state copper behemoth looks to recover from a ...
No comments have been posted yet ...