The world copper market will remain in a stressed state. This opinion was expressed by Chief Executive Officer of the Chilean copper company Codelco Diego Hernandez, according to Metal Bulletin. In addition, he believes that the price of the red metal hold out at a high level in the medium and long term. Nevertheless, due to current market volatility is extremely difficult to predict the cost of copper in the near future. Macquarie Bank analysts recently stated that the cost of copper in the next month could drop to 9000 dollars per ton. Nevertheless, at mid-year market red metal becomes more active, and the copper price will rise to 11-12 thousand dollars per ton. First head of the company Southern Copper Oscar Gonzalez Rocha has suggested that copper prices in 2011 will average $ 4 per pound. According to him, the price of the red metal will be at this level due to strong demand from China, but also because of the shortage of supply. Earlier, representatives of major Chinese copper company Jiangxi Copper said that in 2011 the world market will be observed copper deficiency. According to them, the growing demand for the red metal in China and India, along with recovering demand in emerging economies may lead to a shortage of copper in the world. Ministry of Industry
No comments:
Post a Comment