Monday , October 3 2022

After the bad year for copper: there are expectations in the G20 to close 2018 with a good dollar value Economy


It was not a good year for me copr who suffered assaults of the commercial war that affected the international markets, following the tariff barriers that arose between the United States and China and that kept the rest of the world's countries in uncertainty.

However, towards the end of the year the tension between the two powers has been disagreed and it is expected that the situation will begin to stabilize after the G-20 summit held this weekend in Buenos Aires.

The collapse of the red metal, whose main buyer in the Asian giant has affected the price of the weight over the dollar, currency where emerging economies also have a refuge in the face of the general instability.

Juan Carlos Guajardo, executive director of Plusmining, stated that copper should remain 2 dollars by the end of the year with 80 cents per pound, while US currency should be traded in the local market of about 665 pesos.

Economist of the University of Chile, Alejandro Alarcón, stated that copper will not exceed the 2-dollar obstruction with 80 cents per pound, and the dollar, in his opinion, can vary in a very wide range.

Eugenio Rivera, from the Chile 21 Institute, said that the strengthening of the dollar's registration could even transfer 685 pesos in the next few days in our market.

Meanwhile, the economist of Gemines, Alejandro Fernández, said that short-term prices could vary, but they will finish the year in the figures they are currently.

The lowest risk perception of investors was increasing copper exposure in the markets last week, which is expected to continue in December.

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