A decrease of the indicator value may contribute to the fall in quotes of Copper.
Copper
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News Copper
Chilean state-owned mining company Codelco's February copper production fell 6% from a year earlier to 98,100 tons. The company is the world's top miner of the red metal, but has struggled to boost declining output in recent years.
Rising trade tensions between the world's largest economies are putting pressure on the investments necessary to meet future copper demand, according to representatives of the copper industry cited by Bloomberg.
Julia Torreblanca, the leader of the National Society of Mining, Oil and Energy (SNMPE), indicated that this year’s expected copper output will range from 2.79 to 2.85 million tons, up from 2.74 million tons recorded last year.
Bloomberg reports that China’s retaliatory tariffs on American goods can practically halt supplies of copper scrap from the US, further adding to the shortage of the raw material at Chinese smelters.
Event announcement Copper
The USD publication is expected
Fed Interest Rate Decision
4.5%
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