18.11.2016 - Despite Current Prices, Copper, in the Medium Term, Remains Gloomy
When commodity producers talk down the market you know prospects really arenít very good for a price rise. IvŠn Arriagada, chief executive at Antofagastawas interviewed by the Financial Times while at the recent LME week and is quoted as saying Copper will continue to lag behind as other commodity prices rebound, adding the market is likely to remain oversupplied for at least the next three years. While demand for copper in China will grow at around 3% next year, that growth will be outweighed by oversupply. Chinese demand this year has been bolstered by a surprise stimulus boost early this year but many are expecting that to fade by Q2 next year resulting in a surplus of 192,000 metric tons in 2017, up from 185,000 mt this year, according to Reuters............................................Full Article: Source