11 Mar Joint Meeting of IWCC will put emphasis on Chilean production and more
Joint Meeting of the IWCC will put emphasis on Chilean production and the scrap market
The seventy-fifth version of this important event among copper consumers and producers will focus on the South American market and the new conditions for the importation of scrap in China. The meeting will take place in Santiago, the week before Cesco Week.
From April 3rd to 7th, members of the International Wrought Copper Council (IWCC) – who represent the copper and copper alloy manufacturing industry – and the red metal producers, will meet in Santiago for the fifth time in history in an international meeting key to the industry.
In conversation with Cesco, Mark Loveitt, president of IWCC, talks about the importance of this meeting taking place in our country, the synergy that will be generated due to the proximity of the event with Cesco Week 2019, the changes in the copper market the last years, and the emphasis that will be given to the copper production of Chile and other countries of South America, as well as the scrap market.
What are the synergies that you perceive when you hold the Joint Meeting of the IWCC the week before Cesco Week?
Cesco Week is an important event in the copper calendar and is well supported by the copper producing industry, that is, mining companies, smelters, and refiners. Therefore, it seems natural that from time to time the Joint Meeting, also considered as one of the key meetings of the industry, will be held in conjunction with Cesco Week. The two events are unique but complementary; the Joint Meeting is more intimate and smaller, and Cesco Week is much bigger. Both events aim to generate synergy for the benefit of all segments of the industry’s copper supply chain, with a focus on copper demand.
Apart from the above, what does it mean to have this meeting in Chile?
The IWCC is looking forward to having this meeting in Santiago. It goes without saying that mines in Chile extract more copper than any other country. The word “copper” gets its name from Cyprus; the old home of copper in Europe. Today, Chile is the modern home of copper. In a certain sense, the Joint Meeting of the IWCC returns home.
The 2019 meeting will be the 75th Joint Meeting and the fifth in Santiago. It’s a pretty long story. The last time the Joint Meeting was held in Santiago was in 2004, so the gap would be 15 years. Since then, the copper market has changed dramatically. In 2004, the increase in demand for copper in China had already begun, but at that time China only accounted for 20% of the market, while today it is almost 50%, and in the interim period the total global demand for copper has increased by almost 45%. Copper is a fascinating market.
Can you tell us about a topic that will be discussed in this meeting?
The Joint Meeting is international and aims to provide the audience with up-to-date information on what is happening in the copper market, as well as the socio-political factors that influence both copper production and demand. Naturally, given that the Joint Meeting is currently held in Chile, emphasis will be placed on the copper production of Chile and other copper-producing countries in South America. Scrap is an important raw material for both foundries and refineries as well as for the manufacture of wires, plates and other minor products. Therefore, we are analyzing in depth this sector and, in particular, the effects on scrap imports in China, which are having an impact on scrap demand worldwide. The Joint Meeting also provides an opportunity for the world’s leading metal exchanges (Comex, London Metal Exchange, and Shanghai Futures Exchange) to become involved with the physical copper industry, and by that, I mean copper producers and users.
One of the unique characteristics of the Joint Meeting of the IWCC is that the partners of the guests are encouraged to participate. Any comment on this?
We have always encouraged delegates to bring their partners to the Joint Meeting, one of the characteristics that distinguish this meeting from other events related to copper. The Joint Meeting is about learning and networking, and the participation of their partners contribute to the latter. They are an asset in this meeting.