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Chile anticipates a glut of some 200.000/300.000 tons of copper in 2020

En.mercopress - The global copper market is headed for a surplus of between 200,000-300,000 tons in 2020, the head of the miner Antofagasta told Chilean media, with operation halts at some mines offsetting depressed demand due to the coronavirus pandemic.

Iván Arriagada, chief executive of the Chilean copper miner, told the El Mercurio newspaper it was hard to make projections on the price of the red metal due to market volatility caused by the virus, which has impacted businesses worldwide.

“However, we believe that the copper market in year 2020 will have a surplus, which would be around 200,000 to 300,000 tons,” Arriagada said.

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