| Rising production and softer demand growth should see the copper market register a 399,000 mt surplus this year, up from a surplus of 316,000 mt in 2014, Thomson Reuters GFMS said Wednesday. "We do not expect a pick-up in prices of note until the latter half of 2015," GFMS said in its Copper Survey 2015, though it added: "Wild cards remain and include supply-side surprises, with producers perhaps cutting back from planned targets, while China's state stockpiler could be active again in the current year."
GFMS is forecasting an average copper price for 2015 of $5,975/mt, a 12% drop from the previous year. Three-months copper closed London Metal Exchange floor trade at $5,950/mt on Tuesday...............................................Full Article: Source
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