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Incoming Codelco CEO 'optimistic' about long-term copper price

Credit: REUTERS/Ivan Alvarado

The incoming CEO of Chile's state copper miner Codelco is "optimistic" about the red metal's long-term market price despite the global volatility caused by the U.S.-China trade war.

SANTIAGO, Aug 14 (Reuters) - The incoming CEO of Chile's state copper miner Codelco is "optimistic" about the red metal's long-term market price despite the global volatility caused by the U.S.-China trade war.

"There is a lot of volatility at this moment because of everything that's happening in the world, but we remain optimistic about the long-term outlook," Octavio Araneda said, answering a question from Reuters about future copper pricing.

In April, Chile's Cochilco state copper commission held its estimate for the price of copper at $3.05 per pound, rising to $3.08 for 2020 on improving prospects for growth in China.

(Reporting by Fabian Cambero; writing by Aislinn Laing; Editing by Lisa Shumaker)

((Aislinn.Laing@thomsonreuters.com; +56 223704250;))

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