8 April | Other

Copper market fundamentals remain solid — Codelco

Copper market fundamentals remain solid — Codelco

Codelco, the world's largest copper producer, says physical demand for the metal remains strong amid all the turmoil in financial markets, driven by US President Donald Trump's trade policies.

Over the past week, copper demand has increased in China while holding steady in the US, Codelco Chairman Maximo Pacheco noted. However, New York metal contracts have fallen nearly 20% since late March. While Pacheco avoided making price forecasts, he emphasized that current levels don’t reflect the positive outlook for copper as a critical metal for decarbonization.

Codelco plans to invest up to $5.6 billion in modernization projects to upgrade its aging infrastructure. The company aims to return production to pre-pandemic levels by the end of the decade. Chairman Pacheco stressed that despite ongoing maintenance at the El Teniente mine, the company's copper output in the last quarter probably came in slightly above the same period last year.

Elena Berseneva MarketCheese
Period: 09.09.2025 Expectation: 4600 pips
Resumed BTCUSD growth and bullish Stochastic signal suggest buying with $115,000 target
Yesterday at 10:53 AM 47
Period: 08.09.2025 Expectation: 1500 pips
Tesla stock continues to pull back from channel’s upper boundary
Yesterday at 09:35 AM 24
Period: 26.09.2025 Expectation: 1300 pips
Buying EURUSD with 1.1790 target
Yesterday at 09:20 AM 38
Period: 09.09.2025 Expectation: 550 pips
Selling AUDUSD with 0.64800 target amid temporary dollar weakness and technical correction
Yesterday at 06:47 AM 23
Period: 08.09.2025 Expectation: 2000 pips
Silver soars to decade high on powerful bullish surge
01 September 2025 80
Gold buy
Period: 30.11.2025 Expectation: 70000 pips
Buying gold amid retesting $3,450
01 September 2025 156
Go to forecasts