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Codelco, the world's largest copper producer, controlled by Chile's state-owned state, said on Thursday it had successfully completed its sales plan
in Southeast Asia in 2022 by signing a multi-year agreement.
The company had announced in July that it would seek to quadruple
its sales in the region by 2023 by opening an office in Singapore.
The miner has also expressed interest in the Indian market as it seeks to reduce its dependence on
the Chinese market.
In a statement sent to Reuters, Codelco said it achieved positive numbers in 2021 while exceeding sales expectations for next year and "satisfactorily fulfilling plans to enter Southeast Asia.
"
"We plan to increase refined copper sales in the region and achieve 100 percent sales in 2022," Codelco added, without providing details
.
The miner also said it was able to "successfully execute" its plans in Chinese mainland, with copper premiums rising by about 20 percent
.
In Taiwan and South Korea, the increase was even more than 20%.
As the global economy continues to recover from the pandemic, higher prices for contracts traded on the London Metal Exchange indicate a strong
outlook for copper demand.
Carlos Alvarado, Vice President of Marketing at Codelco, said: "Our strategy to expand into new markets has been successful as refined copper consumption in Southeast Asia is expected to continue to grow
over the next 20 years.
”
He also noted that the company was able to maintain its customer numbers while increasing the premium in Europe by 30 percent
.
Codelco, the world's largest copper producer, controlled by Chile's state-owned state, said on Thursday it had successfully completed its sales plan
in Southeast Asia in 2022 by signing a multi-year agreement.
The company had announced in July that it would seek to quadruple
its sales in the region by 2023 by opening an office in Singapore.
The miner has also expressed interest in the Indian market as it seeks to reduce its dependence on
the Chinese market.
In a statement sent to Reuters, Codelco said it achieved positive numbers in 2021 while exceeding sales expectations for next year and "satisfactorily fulfilling plans to enter Southeast Asia.
"
"We plan to increase refined copper sales in the region and achieve 100 percent sales in 2022," Codelco added, without providing details
.
The miner also said it was able to "successfully execute" its plans in Chinese mainland, with copper premiums rising by about 20 percent
.
In Taiwan and South Korea, the increase was even more than 20%.
As the global economy continues to recover from the pandemic, higher prices for contracts traded on the London Metal Exchange indicate a strong
outlook for copper demand.
Carlos Alvarado, Vice President of Marketing at Codelco, said: "Our strategy to expand into new markets has been successful as refined copper consumption in Southeast Asia is expected to continue to grow
over the next 20 years.
”
He also noted that the company was able to maintain its customer numbers while increasing the premium in Europe by 30 percent
.
