Máximo Pacheco, chairman of the board of directors of Chilean National Copper Company (Codelco), said at the Asian Copper Week event that due to double-digit growth in copper smelting capacity in China and other parts of Asia, the company's cathode copper and copper concentrate sales have increased The amount has dropped accordingly. Data released by the General Administration of Customs shows that Chile’s copper concentrate exports to China are at their lowest level since 2008, but China is still a “market of strategic significance.” He is optimistic about China’s overall copper demand and expects It will grow by 5% this year.
In the next 10 years, the Asian market will account for at least 40% of Codelco's copper sales. Pa pointed out that the company is the world's largest copper producer, and its copper sales to China are an important reference for the entire market. The industry predicts that global copper production capacity will be in excess of 467,000 tons in 2024, coupled with China's construction projects in Indonesia, India, Congo and other places. Copper smelters, in this regard, Codelco has considered reducing the premium charged to Chinese customers by 36%, and is focusing on promoting a series of long-stalled large-scale mining projects. It is expected that the company's copper output will reach 1.315 million tons this year, and will increase slightly to 2024. 1.34 million tons.
