Constrained consumer demand a serious drag on recovery, Concord CEO says

August 04, 2020 / www.metalbulletin.com / Article Link

The year 2020 has been the ultimate stress test for commodity market participants and will stay challenging amid significantly impaired consumer demand trends due to the Covid-19 pandemic, according to the chief executive officer of Concord Resources.

Mark Hansen said the economy is operating on 70-90% of its usual demand strength due to the pandemic, with huge portions of previously high-demand growth markets - such as aerospace and automotive - seriously affected.
"The impacted areas in mining have probably been more transient than permanent in so much as large operators will figure out how to operate substantial assets at a profit in a pandemic. What I'm more concerned about is getting demand back to actual growth beyond recovery to 70-90% of consumer products; it's a little more difficult," he told Fastmarkets in an interview.

"When you look at aerospace and automotive markets globally, it's going to be a while I think before we can really call true growth as having returned to consumer markets. There will be recovery, and we're probably back to a 70-80% level of recovery, but if we stay there for some time it...

Recent News

Gold stocks up on rise in metals and equities

October 14, 2024 / www.canadianminingreport.com

Gold stocks decline on flat metal and mixed equities

October 07, 2024 / www.canadianminingreport.com

Copper price expected to range from flat to slight gain in 2025

October 07, 2024 / www.canadianminingreport.com

China's gold holdings to central bank reserves still low

September 30, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok