Copper producers gather as electric cars drive demand growth
US-China trade dispute among concerns
Santiago — Global copper producers are converging in Chile this week as tightening supply buoys prices, even as the industry grapples with declining ore quality, project delays and worries the US-China trade war may hit long-term demand. Despite these challenges, the industry is planning for substantial growth in the next decade thanks to an expected boom in production of electric vehicles, which use twice as much copper as internal combustion engines. Car makers are promising to produce all-electric fleets. With all that in mind, hundreds of investors, executives, analysts and regulators are gathering in Santiago, the Chilean capital, for the annual World Copper Conference. “From a numbers perspective we have a deficit in copper, and it's expected to be a tighter market in 2019 relative to last year,” said Eleni Joannides, a copper market analyst at consultancy Wood Mackenzie. Relatively upbeat commodity prices since January have lifted producers such as Freeport-McMoRan, Antofagas...
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