Southern Copper's shipments and supplies unaffected by coronavirus outbreak
2020-02-28 12:02:44 [Print]
The covid-19 outbreak does not affect shipments and the supply chain of Southern Copper, according to the company's CFO Raul Jacob.
"The world is now starting to feel the financial and economic impacts of the outbreak but at this point it is difficult to assess the full effect of this event on copper demand," said Jacob. He added, "however, we hope that the outbreak, if finally contained, will have a mild impact on the global economy ending in a v-shaped recovery in copper demand."
The coronavirus outbreak has not impacted Southern Copper's operations or sales to date, Jacob added. "Our shipments, even those to China, are moving ahead as scheduled," he said.
Southern Copper's suppliers have begun sourcing some parts and materials required by the company from outside China, with some deliveries taking longer to arrive, but there has been no significant impact on the supply chain, the CFO said.
"Our inventories are sufficient to cover our operations at this point and there is nothing to report in terms of delays or anything like that either at a commercial level or to the supply chain for the corporation," he added.
Southern Copper expects global copper supply to grow about 2% in 2020, barring more negative covid-19 impacts, resulting in a small production surplus.
"The world is now starting to feel the financial and economic impacts of the outbreak but at this point it is difficult to assess the full effect of this event on copper demand," said Jacob. He added, "however, we hope that the outbreak, if finally contained, will have a mild impact on the global economy ending in a v-shaped recovery in copper demand."
The coronavirus outbreak has not impacted Southern Copper's operations or sales to date, Jacob added. "Our shipments, even those to China, are moving ahead as scheduled," he said.
Southern Copper's suppliers have begun sourcing some parts and materials required by the company from outside China, with some deliveries taking longer to arrive, but there has been no significant impact on the supply chain, the CFO said.
"Our inventories are sufficient to cover our operations at this point and there is nothing to report in terms of delays or anything like that either at a commercial level or to the supply chain for the corporation," he added.
Southern Copper expects global copper supply to grow about 2% in 2020, barring more negative covid-19 impacts, resulting in a small production surplus.
Copper Conc. 20%min Delivered China
Unit:RMB/mt Cu
China copper concentrate producers' output statistics by province by month
Unit: mt
