Monday , July 26 2021

Minister Prokurica attributed to the commercial fall of copper prices

The mining minister, Baldo Prokurica, expressed concern over the tariff war between the United States and China, and particularly its impact on the price of copper.

"Having met with what President Sebastian Piñer had said, I would like to say that the commercial war that Trump President initiated with China affects our country and the countries exporting the goods, and above all Chile, whose mining exports are 50%, especially copper ", He said.

Likewise, Prokuric recalled that for every dollar a fall copper torch, Chile stops exports of approximately $ 100 million and ceases to receive a very important amount of taxes and funds for that matter.

"This is unfortunate, because if we analyze the copper stock of the various exchanges in which this metal trades, if today paralyzes all the mines in the world, copper would not last more than four days, that means supply and Demand is very high, however, the price has fallen due to the instability caused by the commercial war and we hope that the commercial war can end as soon as possible in order to have the reality of the value of copper and commodity prices, "he said.

The procuration made this statement on the second day of the tour by the People's Republic of China, where he visited the Yutong electric bicycle factory, which will send hundreds of vehicles to Chile in the coming weeks to Transantiago.

On that occasion, the Secretary-General said that the entry of these buses "is an important effort of the country to incorporate electromagnetism into everything that means public locomotion, especially because of the importance that electromagnetism will have for Chile."

During his visit, Minister Prokuris seeks the possibility of establishing a link between Chile and the Chinese manufacturer. "Our interest is to be able to have a deal with this company and with its affiliates supplying lithium batteries to be able to go into the value chain," he said.

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