Foreign media news on September 19: Sources said that Chilean National Copper Company (Codelco) will terminate its long-term contract to sell copper concentrate to Chinese customers starting in 2025. After evaluating its production prospects, Codelco plans to expand its product range to Chinese customers. Sources said Codelco's move is aimed at replacing dedicated copper concentrate contracts with other contracts that include copper concentrate and value-added products such as blister copper and anode copper, which are derivatives of copper concentrate and can be converted into copper. metal or cathode copper. Some Chinese customers have expressed dissatisfaction with the changes, but new contracts including copper concentrate derivatives have had to be negotiated as Chinese buyers demand Codelco's copper concentrate in anticipation of supply shortages.
Due to operational problems, Codelco's copper output fell to about 1.46 million tons last year, the lowest level in 25 years, and output is expected to decline further this year. Codelco expects to produce 1.31 million to 1.35 million tons of copper this year.
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