Big copper deals to take centerstage in Santiago as demand heats up

Copper prices touched a seven-week high last Friday despite macroeconomic concerns fueled by uncertain Chinese demand projections and the ongoing war in Ukraine, although they are down nearly 5% from a seven-month high of $9,550.50 reached in January.

"We expect the copper market to remain in deficit as the green transition accelerates," Fitch Solutions said in a recent report to clients. A portion of the weeklong conference is devoted to research presentations on new applications for the red metal, part of an industry plan to go on the offense against aluminum, a cheaper but less-efficient alternative to conduct electricity.

Reporting by Fabian Cambero, Polina Devitt, Divya Rajagopal, Clara Denina, Pratima Desai, Ernest Scheyder and Alexander Villegas; writing by Ernest Scheyder; Editing by Sandra Maler

Ea-Nasir at it again

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