Codelco Shifts Spot Sales to US, Sees Strong Long-Term Copper Demand Fundamentals

Published: Apr 1, 2025 19:05

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According to SMM, Ruben Alvarado, CEO of Codelco, the world's largest copper producer, stated that the company has already shifted some spot sales to the US. Alvarado also mentioned that he sees no reason for copper to be subject to sanctions or tariffs, and expects the long-term fundamentals of copper demand to remain strong despite short-term fluctuations. "In 2024, our production successfully emerged from the trough," the company stated in its performance report, adding that the company has reduced costs and addressed some long-standing issues at key plants. The company also indicated that it expects the Andesita and Andesnorth projects to commence production this year.

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