August 14, 2018 / 6:17 AM / 4 months ago

Antofagasta reports lower H1 earnings, trade clouds short-term copper demand

LONDON, Aug 14 (Reuters) - Chilean copper producer Antofagasta announced first half EBITDA (earnings before interest, tax, depreciation and amortisation) were down 16.2 percent versus a year earlier and said trade tensions were clouding the short-term copper demand outlook.

“The copper market outlook in the mid to longer term continues to be favourable as demand is expected to grow at around 2 percent while supply growth remains constrained,” it said in a statement. “In the shorter term, there is considerable market uncertainty with the outcome of current international trade negotiations unclear.” (Reporting by Barbara Lewis; Editing by Kirsten Donovan)

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