LONDON, Jan. 17, 2020 /PRNewswire/ -- CRU's Copper Concentrates Team operates out of offices across the globe, with representatives in Santiago, London, Singapore, Beijing and Sydney. We follow everything from anode slimes to sulphuric acid prices, to construct our view on the wider copper concentrates market. Below, we pick out 10 key themes that will steer the market in 2020.
Elevated risk of further disruptions in South America
A series of strikes and protests have elevated the risk of further mine disruptions in 2020. The major stumbling blocks in Chile include the many (>10) labour contract negotiations, and the risk of civil unrest erupting around the constitutional referendum (26th April).
Water shortages will impact mines across the globe
Severe droughts and increased water demand from copper miners will impact costs and output in parts of South America, Africa and Australia. ESG matters remain a major concern for all copper miners.
Less complex concentrates on the custom market
An unusual sequence of events caused levels of complex material to spike last year. However, we expect levels to return to normal in 2020. That said, how we define complex concs could be affected by tighter import restrictions in China, that were floated and dropped last year.
Smelter closures in China as losses start to stack up
The wave of new smelter projects that have come online in China, over recent years, has pushed the concentrates market into deficits. Chinese smelters will compete for tonnes, but declining TCs, weak acid prices and premiums, as well as rising costs, will prompt closures.
CSPT will help to consolidate industry
CSPT will help to consolidate the Chinese smelting industry as the market tightens. The 10-member group is already vetting new members and may look to snap up distressed assets. The group will be more resilient as the market tightens with its coordinated strategy.
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CRU offers unrivalled business intelligence on the global metals, mining and fertilizer industries through market analysis, price assessments, consultancy and events.
Since our foundation by Robert Perlman in 1969, we have consistently invested in primary research and robust methodologies, and developed expert teams in key locations worldwide, including in hard-to-reach markets such as China.
CRU employs over 280 experts and has more than 11 offices around the world, in Europe, the Americas, China, Asia and Australia – our office in Beijing opened in 2004 and Singapore in 2018.
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