Attendance slips, but Chile Cesco copper event still a magnet for industry

lunes 4 de abril de 2016 17:41 GYT
 

* Financial world mostly absent from Cesco

* China is consumer centric, Cesco is producer centric

By Pratima Desai and Anthony Esposito

SANTIAGO, April 4 (Reuters) - Attendance at the copper industry's annual jamboree in Chile has fallen due to fewer financial participants, but Cesco remains relevant to producers, consumers and traders who find ample opportunities to make deals and meet kindred spirits.

About 1,500 people have signed up for Wednesday's keynote Cesco dinner, down from 1,700 last year, the organisers said. They would not give numbers for prior years, but Erwin Faust, chief financial officer at Europe's largest copper smelter, Aurubis, said around 2,500 went in 2010.

Delegates said attendance has fallen because the financial world is now mostly absent.

"I've been here for a week, it feels quieter, more like it was before commodities became a game for investors and banks," a source at a commodity trader said on Sunday.

"But I've probably done as much business as I did in the same time last year. For now Cesco is as important as it ever was for deals, meeting people, renewing relationships."

The absence of financial institutions has merit, some attendees said, explaining that the industry picture that emerges will reflect real fundamentals.   Continuación...