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Copper: Will the surplus be short-lived?

Posted on 24 February 2014

The world copper market is interestingly poised. It is starting the year 2014 with a small deficit, but is set to end the year in a surplus. The surplus may continue for quite some time, thanks to substantial additions to supply over the coming years.
As a result, demand is unlikely to be constrained by prices while such prices may limit additional capacity. In 2013, there was a combination of strong growth in mine supply, weak growth in scrap supply as well as decline in capacity utilisation in smelters, as a result of which global supplies increased. In 2014, new mine supply should expand more rapidly and smelters are expected to operate at a higher utilisation rate, raising overall output………………………………………..Full Article: Source


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VRS - who has written 38561 posts on Opalesque Commodities Briefing.


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