The outlook for copper demand in the mid to long term remains healthy despite current trade friction between China and the United States as a renewable energy revolution will require vast amounts of the metal, industry executives said on Wednesday.
Delegates at the Asia Copper Conference in Shanghai noted recent Chinese indicators showed the real impact on demand for copper-intensive goods as the country’s economic growth cools.
Copper is playing a greater role in the move toward renewable energy because it is the most conductive metal.
The recent weakness in copper prices does not reflect a long-term price trajectory, said Jerry Jiao, vice president of China Minmetals Corp, who also sees the metal benefiting from a roll-out of 5G, or next-generation mobile networks, which will need copper in base station infrastructure.
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