RE:Latest Assessment Oh Hiya Louel!!! I hope your havin the BEST Day!!!! Thanks for posting this article and stuff about Teck.
Its like ANOTHER signel that Teck is not going to be changing its statement on capital investements this year for like Schaft Creek JV PRODUCTION deciions and stuff. Seems like a lot of comodoties are soft and the world economy is goin on pause for a wee wee bit after a 10 year bully run. I dunno.
I DO know that MoneyK will be raching up the pumpy pumpy talk and BIG BUYOUT $$$$ when we all know that is NOT happinen this year 2020 and not to much reason to think that 2021 is gonna be much differint and stuff.
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The high-grade Antamina mine in Peru is viable under nearly any reasonable copper price, while mines in Canada and Chile might struggle in the years to come, as we expect copper prices to sag on weaker Chinese demand growth.
Our outlook for Chinese steel demand and steel scrap availability suggests the market has yet to see the worst for metallurgical coal. We expect met coal prices of USD 91 per tonne in a midcycle environment by 2023.
We expect similar weakness in copper. Cost deflation and a bearish Chinese demand outlook lead us to expect lower market clearing prices than previous years. Our long-term copper price forecast is USD 2.30 per pound in 2021. We assume a zinc price of USD 1.10 per pound from 2020, in line with spot, and inflated at 2.25% per year.
Have the BEST day EVERYONE!!! ^_^