Despite healthy copper prices, H1 results were negatively impacted by a combination of below-par output and higher costs. Now with the copper price momentum fading, mostly due to the trade war concerns, a near-term performance impact seems inevitable. Having said that, copper’s long-term demand-supply fundamentals are still unchanged and, hence, Antofagasta remains an apt proxy to capitalise on the red metal’s potential.
17 Aug 2018
Challenging H1, with uncertainties aggravating the (near-term) pain
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Challenging H1, with uncertainties aggravating the (near-term) pain
Antofagasta plc (ANTO:LON) | 2,042 0 0.0% | Mkt Cap: 20,126m
- Published:
17 Aug 2018 -
Author:
Varun Sikka -
Pages:
4
Despite healthy copper prices, H1 results were negatively impacted by a combination of below-par output and higher costs. Now with the copper price momentum fading, mostly due to the trade war concerns, a near-term performance impact seems inevitable. Having said that, copper’s long-term demand-supply fundamentals are still unchanged and, hence, Antofagasta remains an apt proxy to capitalise on the red metal’s potential.