Antofagasta Results Presentation Deck
Copper market
Fundamentals are strong and supportive of future prices
Supply outlook
• Expected to grow just in line with demand during 2022
• Continued falling grades and increasing ore hardness
• Scarcity of major new projects
Stock levels very low and constrained logistics chains
Scrap supply will continue to increase
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Demand outlook
Growth expected, driven by Europe, North America
and Asia ex China. Slower in China
Renewable and electromobility demand key
Urbanisation continues to drive long-term growth
Next 10 years' CAGR 2.0-2.5% pa.
c/lb
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Dec 16
Antofagasta plc | 2021 Preliminary financial results
Copper price and exchange stocks
Jun 17
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Dec 17
Stocks LME
Jun 19
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Stocks CMX
Dec 19
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Stocks Shanghai
Thousand
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Dec 21
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-LME PriceView entire presentation