Copper forecasts cut

摘要

Global copper production in 2020 is expected to be impacted by the coronavirus (COVID-19) outbreak. After declining by 1.9 per cent in 2019 to 20.6 million tonnes (Mt) due to lower ore grades and production disruptions, copper production was initially expected to grow by 3.4 per cent in 2020 due to an anticipated increase in production from Chile, China and Peru. However, with falling demand and ongoing disruption to mining activities due to lockdowns, this has been reduced to just 1.9 percent - with production of 21 Mt in 2020. The ongoing disruptions will be offset by production from the Cobre Panama and Grasberg mines, according to GlobalData, a leading data and analytics company.