Trade spats to curb industrial metals demand: BMO
BMO Capital Markets has lowered its demand estimates for next year on the anticipation that higher tariffs and multilateral trade friction could tamp down industrial output.
Chilean mining giant Codelco is still working to meet its estimated output for the second quarter, CEO Ruben Alvarado told Reuters, as the state-run copper miner is pushing to boost production up from its lowest in 25 years.
Alvarado said that a recent rise in copper prices is a positive sign, adding that any improvements would benefit Codelco’s finances, but said that Codelco must wait to see if they remain stable.
(By Fabian Cambero; Editing by Sarah Morland)
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