Codelco unfazed by China, fickle tags
Apr 08, 2014 | 06:14 PM
| Andrea Hotter
SANTIAGO, Chile Volatile copper prices and concerns that a clampdown on shadow banking will lead to a flood of metal into Chinas domestic market have not resulted in cancellations from customers, Corporación Nacional del Cobre de Chile (Codelco) chief executive officer Thomas Keller told AMM.
"We have had no cancellations from our customers. There are issues on the financing front, for sure, and perhaps there is some market sentiment that the carry of stocks doesnt pay anymore," he said during the Center for Copper and Mining Studies annual Cesco Week in Santiago. "The devaluation of the local currency could impact short-term supply, theres always that fear. But it doesnt change dramatically the supply-demand equation for copper."....
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