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Vale Update on Copper Business in 2019-2020 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
3/3/2020 - Copper exhibition -non-ferrous metals expo |
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Vale said that global demand for copper remained relatively flat in 2019 compared to 2018. Global refined copper production increased slightly by 0.3% in 2019 vs. 2018 while the recent China scrap ban supported primary use. It said Our near-term outlook for copper is relatively positive. We expect the market to remain essentially balanced with some upside risk for deficits in 2020, with macroeconomic factors, such as the ongoing trade dispute between China and the US, though negotiations are currently making progress amidst a US election year, continuing to influence price and subdue refined copper demand as it has over this past year. Also, due to potential impacts of the coronavirus, we expect additional Chinese stimulus to support short-term growth.”
Vale added “Our long-term outlook for copper is positive. Copper demand is expected to grow, partially driven by electric vehicles and renewable energy as well as infrastructure investments, while future supply growth is challenged given declining ore grades and the need for greenfield investment, creating a positive market outlook.”
有色金属展-铜材展-2020年广州国际有色金属工业（铜业）展览会
-2020 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
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