Expresses the hope of an expert on the increase in the price of red metal in 2019

According to Mining News Pro -The 14th Asian Copper Week was hosted by more than 1,800 participants from around the world. The future of the copper market was the focus of this international event, viewed annually by the Center for Copper and Mining Studies (CESCO), with a view to the trade tensions between China and the United States.

In this event, analysts expressed their hope for an increase in copper prices in 2019; among them, Xiaohong Wang, the head of the Investigation of Mines and Metals of the Institute of Studies at Engelhart Commodities Trading Partners. According to him, in the first quarter of the next year, he should wait for the price of red metal to rise. The reason for this rise was the lack of internationally refined copper reserves and the improvement of macroeconomic indicators.

The ECTP Research Institute for Mining and Metallurgy also added that the price of copper in the LME fell in the early weeks of November, and the red metal was traded between $ 6,000 and $ 6,100 per tonne. This fall in price will continue to occur as supporters of the rising copper price, such as supply shortages, continue to exist. So, for the first quarter of 2019, we should expect prices to rise. The current decline is the result of the trade tensions between China and the United States and its concerns.

From other parts of Asia`s Copper Week 2018, China`s role was on the future of the copper market. The latest interactions of the copper market indicate that China`s presence in the future of the Red Metal market is on the rise. A significant increase in the number of trades done by Chinese companies in major copper exchanges over the past two years has been evidence of this claim.

China is also increasing its investment in copper mines abroad to offset its need for future concentrates, and large companies like Jiangxi Copper have taken serious steps in this regard. Xu Yuanfeng, director of trade and commerce of Jiangxi Copper in the Asia Copper Week in 2018, declaring that the company has been buying copper concentrates from copper mines more than ever, said: "In line with strategic planning for the future, we are working on copper mines The world is not in trouble with the need for melting feed. However, due to the shortage of minerals and the shortage of supply, the supply of food is challenging, so we have tried to consider the use of scrap as well as the use of concentrates of world copper mines.

South America and Africa are the intentions of Chinese companies to supply their concentrates. What will increase investment in new development projects.