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Trump Trade War - US-China trade war depressing copper price - Mr Jean-Paul Luksic

Metal News - Published on Tue, 14 May 2019

Image Source: Reuters
Reuters quoted chairperson for Chile's Antofagasta told a Chilean newspaper as saying that a trade war between the US and China is depressing the price of copper and the red metal would be 5% to 15% higher without the dispute. Mr Jean-Paul Luksic said in an interview with El Mercurio that "Without the commercial war, I am convinced that the price of copper would be between USD 3.20 and USD 3.50/lb."

Despite a rebound on Friday on hopes of an agreement between Washington and Beijing, the value of copper registered its fourth consecutive weekly decline. It is currently about $3/lb.

Mr Luksic said that the market has good prospects, but the red metal is hurting more than it should be. He added that "As long as this uncertainty persists, the low prices will continue."

The bruising trade war, which has slowed the global economy, is clouding the outlook for demand from top metals consumer China.

Source :

Posted By : Rabi Wangkhem on Tue, 14 May 2019
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