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Diario Financiello warns Pacheco in Singapore that copper market could accumulate significant deficits in 10 years


El mercado de cobre could accumulate a deficit of 8 million tons in 10 years duedo a que la gallopante demanda superará con creces una sequía de nuevos proyectos, dijo el jueves el PRESIDENTE DEL DIRECIRIO DE LA ESTATAL CILENA CODELCOmayor productora mundial del metal.

In a lecture at Asia Copper Week held in Singapore, Maximo Pacheco desta moss The entry of projects in Chile, Congo, Peru and Tibet will lead to a surplus in the short term, but demand will outpace offers in the medium term..

Pacheco said, “Considering the course of work to do the first operation, we could be at a $100,000 deficit over 10 years.”

“This is more than Chile, the world’s largest copper producer, produces 5.6 million tonnes a year,” he added.

Codelco reducirá envíos de cobre refinado a China en 2023 ante solida demanda en otros importantes mercados

As an example, Executives noted that the energy transition to face climate change will push copper demand from 25 million tonnes a year to just over 31 million tonnes in 2032..

Pacheco stressed that the time to cover supply is “very short” compared to the long period required to realize new deposits.

“De no entrar enoperción nuevos proyectos mineros, además de los que ya están en portal, el desajuste entre oferta y demanda comenzará a notarse durante la segunda mitad de esta decadá, en 2026,” he asserted.





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