With the creation of new technologies and the growth and massification of electromobility, it is that the copper market is viewed with optimism by the first-day exhibitors of the 15th Asia Copper Conference, in Shanghai, China, held this 20 and 21 of November.

At the conference -organized by the Center for Copper and Mining Studies (Cesco) and Fastmarkets, and which is framed in Asia Copper Week-, market experts, and representatives of mining and foundry companies expressed their security regarding the fundamental market variables.

“The impression is that there is a very good atmosphere,” said the Chairman of the Board of Directors of Cesco, Leopoldo Reyes. “Although the price of copper has not picked up as people want, and it is possible that it will not pick up in the next twelve months, the idea of a a global recession has been discarded, leaving people more calmed. However, given that there is going to be a market almost in balance, a great change in the price is not expected”.

On his side, Patrick Cussen, the former Chairman of the Board of Directors of Cesco and current President of Celta Consultores, and who acted as moderator in the event, stressed that although the market is in balance, so there would not be many price differences during 2020 compared to 2019, there is still optimism in the future on the market. “In the long term, there is optimism about the copper market, since there will be a fairly strong demand generated by all new copper applications, in transportation with electric vehicles, for example. However, in the short term, there was a coincidence on the part of the exhibitors, that the market is balanced. Taking this into account, we can see that what have really influenced are the macroeconomic variables, which are external to it.”

Cussen explained that the great factor that has had an impact on market behavior is the commercial war between China and the United States. “On that side, anyway, you can have some optimism, because you can see that the conversations between the two countries have advanced, and although there are ups and downs in this dialogue, the tendency is that there is a partial agreement at the beginning, which will then be completed”, he said.

About Asia Copper Week

Asia Copper Week is one of the most important mining events in the world and is organized by Cesco and the China Non-Ferrous Metals Industry Association. In addition to the 15th version of the Copper Conference, the CEO Summit is held, a private and closed meeting with the participation of about 50 CEOs and senior managers from different companies from both the West and China. The themes analyzed were the future of copper in terms of consumption: electricity companies, the automotive industry, etc.

Subsequently, the Asia Copper Dinner was held, an annual dinner that is attended by more than 1,800 people linked to the industry. The main presentation was given by the economist and professor at the China Center for Economic Research at Peking University, Huang Yiping, who analyzed the impact on the development of the global economy in the context of the bilateral relationship between China and the United States.