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Copper output surge adds to price pressure

Posted on 09 April 2014

A surge in mine production could send copper prices down to $6,000 a tonne later this year – a level last seen in the immediate aftermath of the global financial crisis, according to a leading metals consultancy.
The price of the red metal has already fallen 10 per cent this year, to $6,675 a tonne, on concerns about a slowdown in China, which accounts for 40 per cent of global copper demand. But in its annual copper survey, Thomson Reuters GFMS predicts further price weakness and more pain for producers………………………………………..Full Article: Source


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