Change time

Experts expect growth in copper production

Market experts expect the non-ferrous metals in 2013 to increase the volume of production of refined copper. In particular, such an opinion was expressed by experts «Center for Copper and Mining Studies». According to them, the difference is small with last year — only 3%. However, given that the growth in global demand for the red metal will not keep up with these data, for the year expected movement balance of supply / resource consumption close to zero. «The only state whose economy will appetite to» digest «the three percent surplus of copper — is China. In this country, the red metal consumption, we expect to grow by 5−6% «- summed up his message to the press Juan Carlos Gvadzhardo (Chapter CCMS).

With views of the analysts «Center for Copper and Mining Studies», considering that copper supply growth this year will be measured, experts agree another international company — financial conglomerate «Credit Suisse Group» (Switzerland). Although studies of Zurich specialists affect the area of ​​production of copper, rather than its processing, the numbers of their predictions coincide with the expectations of professionals from CCMS: in the world, according to representatives of the Swiss company, this year will produce copper 6% more than in 2012.

As for the cost of copper on global markets, where non-ferrous metals market analysts see the following prospects: «In the near future the prices for the red metal will overcome the barrier of 8000 USD, from the height of which they have fallen in the 20 February numbers» — says the analyst Angus Staines representing another Swiss financial structure — UBS corporation. «This behavior of quotations will be initiated by short-term increase of interest to the resource by Chinese manufacturers, who will try to make up their own reserves of copper to the market entry into the traditional phase (due to the» discovery «of the season) business activity. However long this state will not last — as soon as the price of the red metal will start to unnecessarily crawl uphill, consumers will return to the tactics of «modest» (as needed) purchases «- says the UBS analyst.

See all news