Codelco cuts 2024 copper premium to China, changes contract structure

The Metals Company expect to file an application in H2 2023 and to receive a mining license in 2024.

The Chinese state planner has issued several warnings against hoarding and speculation in recent weeks.

Metal price was also impacted by the rise in oil prices and fears about inflation and higher interest rates in the US.

Rising demand for EVs is encouraging automakers such as Tesla, Volkswagen and Stellantis to step up efforts to secure raw materials.

Rising geopolitical tensions and the prospect of industrial decoupling are fueling a surge of interest in the processing of energy-transition metals outside China.

China’s leading renewables firms are joining the rush to open factories in the US.

The decision came after the International Seabed Authority spent the past two weeks debating standards for the new and controversial practice.

The move would come as prices plunge on a significant slowdown in demand for EVs in China.

China’s capacity to manufacture electrolyzers could grow about 20 times by 2028 as costs of the clean energy source plunge.