The health status of the main economies, as well as the pulse of world trade, are fundamental issues for mining. It is on these dates that there are two major meetings in the industry, which give rise to a reflection on the scenario in which it operates. The first, the London Metal Exchange Week (LME Week), which took place between October 27 and November 1st, with a more western view of the issues surrounding mining , and the second, Asia Copper Week in Shanghai, China (which will take place from 19th to 22nd of November), where we can learn in-depth the vision of this side of the world and the main market for commodities.

In the case of the LME Week, the conversation revolved around the challenges and opportunities in a context of geopolitical uncertainty, trade tensions between China and the United States, responsible mineral supply, the electromobility boom, the environment, and regulatory pressures, and the consequent impact of these issues in the markets.

The result of the survey applied during the LME Metals Seminar 2019 was interesting, around the strategic challenges that investors would be ignoring: the ability to generate income for Millennials and Generation Z, the stagnation of globalization and global market losses, climate-related challenges and implicit fiscal pressures (pension funds, health care) due to population growth.

In contrast to the LME Week, Asia Copper Week will be held in the country that is the main buyer of copper in the world, which acquires about 50% of our country’s red metal exports, and is the traditional driver of its price. It is interesting to ask if the concerns will be the same there.

I don’t think so.

In the field of the multiple and constantly changing variables that affect the complex present, more and more new spokesmen appear around the predominance of Asia as a hegemonic region. And not only because of the size of its population, in constant expansion, but because 35% of the global economy is focused there. Likewise, its main economies, markets to which the West wants to enter, are currently having more commercial exchange and integration between them than with the rest of the world. China’s initiative, “One belt, one road” is an unprecedented example of infrastructure development and connectivity and, therefore, growth for the area. This is a principle that marks the economic development of the country, legitimizing the resurgence of China as a world power.

Asians are optimistic about their future after decades of absence of civil conflicts, economic growth, and prosperity. His mood is very favorable for our country, which must take advantage of all possible instances to increase exchange and closeness with the economies of the other side of the Pacific.

By Alejandra Wood, Executive Director of Cesco.