立即注册,

不到 60 秒您即可继续访问:最新资讯提要分析主题和专题大宗商品视频、播客和博客样本市场价格和数据专题报道订阅用户通知和每日大宗商品电子邮件提醒

已有帐户?

登录以注册

忘记密码

请注意:Platts Market Center 订阅用户只能通过 Platts Market Center 重置密码

请在下面输入您的电子邮件 ID,我们将给您发送一封包含您密码的电子邮件。


  • 电子邮件地址* 请输入电子邮件地址。

如果您是高级订阅用户,出于安全原因,我们无法向您发送您的密码。请联系客服团队

如果您是 Platts Market Center 订阅用户,若要重置密码,请转到 Platts Market Center 重置您的密码。

在此列表中
金属

INTERVIEW: Copper demand slump cancels out deficit; still long-term winner: Central Asia Metals CEO

Platts Forward Curves - [石油]

Bunker Fuel | 石油 | 原油 | 液化石油气 (LPG) | 石油风险 | 成品油 | 燃料油 | 汽油 | 航油 | 石脑油

appec

INTERVIEW: Copper demand slump cancels out deficit; still long-term winner: Central Asia Metals CEO

London — Demand curtailment amid the coronavirus pandemic is cancelling out a deficit that supported copper prices in early 2019, but the red metal could still be a winner longer-term on expected infrastructure spend, Nigel Robinson, CEO of base metals producer Central Asia Metals, said Wednesday.

尚未注册?

接收每日电子邮件提醒、订阅用户通知并获得个性化体验。

立即注册

In an interview, Robinson said, "2019 started strong for copper, with a 300,000 mt deficit."

During the year, however, the US-China trade war led copper to underperform, hitting consumption growth and limiting the rise in copper prices to 3.5% to finish the year at $6,174/mt, according to Central Asian Metals.

Now, with a year-on-year contraction of as much as 10% foreseen by analysts at JP Morgan in global GDP in first half 2020 as a result of the pandemic, copper prices have slumped as demand has fallen back, although 14- to 21-day production cuts in locations, including Peru and South Africa, may lend some support, Robinson said.

The London Metal Exchange cash copper price shed around 15% last month, finishing March at $4,797/mt after touching three-year lows mid-month.

ING Economics said Wednesday that it had cut its second quarter copper forecast "significantly" to an average of $4,680/mt and expects gradual recovery mostly during the second half to see a full-year price average at $5,030/mt. This would still be well below the LME price of $6,188/mt of the start of this year.

"We won't see a significant change in copper prices but there should be significant stimulus in the second half," resulting in copper-intensive infrastructure growth and leading to recovery, Robinson said. With the expected increase in GDP in 2021, "copper could be a winner," with world copper consumption ex-China potentially recovering to its pre-coronavirus growth level of 1%-2% annually, he said.

"In the longer term beyond 2023 there should be a growing deficit of copper," Robinson said.