Chile mining trade group sees copper supply glut of 200,000 tonnes in 2020

The copper market will see a supply glut of 200,000 tonnes this year as the economic impact of coronavirus hits global demand for the metal, a Chilean industry group told Reuters. Diego Hernandez, president of Sonami, an association of mining companies with operations in top producer Chile, said both supply and demand would drop as the global economy falters. “With the information we have today, we expect a 3.5 to 4% decrease in demand,” Hernández told Reuters by email.

Source: Reuters