Better scenario for copper companies

November 2017:  Copper serves as a global barometer of industrial activity and this month the price surpassed the US$7,000/t barrier for the first time since 2014.

The momentum in global economic growth and low supply levels have injected optimism into CODELCO’s projections. The Chairman of CODELCO, Mr. Oscar Landerretche, remarked that a ton of copper may reach its historical maximum of US$10,190 achieved in 2011, while he was attending the London Metal Exchange (LME) week.

He said, “It is inevitable that the market will encounter excess demand in the near future … All the factors are in place that indicate higher demand and we do not see supplies increasing.”  (Read more)