Chileans raised their copper price forecasts over the next 12 months on expectations that stronger demand growth from China would support it globally.
“Higher demand from China is projected due to higher GDP growth than anticipated in the first half of the year,” Cochilco said in a statement.
The outlook sets the general course that Chilean state-owned mining company Codelco is supporting, CEO Nelson Pizarro said. “I fully believe that current price levels are fully resilient and support current operations relatively well as long as our costs do not rise,” he said.
“We forecast that copper demand in China will grow by about 2% next year,” the official said.
Chile raises copper price forecast for 2018
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Azovpromstal® 27 November 2017 г. 11:14 |
