The phase-one trade deal between the US and China may bring some relief to copper exporters, helping shore up the finances of Chilean State-run producer Codelco, Mining Minister Baldo Prokurica said.
Copper prices may rally to $3/lb, from an average of about $2.72/lb last year, as Washington and Beijing work to resolve their trade dispute that has ushered in a “complex period” of economic uncertainty, hurting industrial demand for the metal, Prokurica said in a phone interview.