Change time

Copper: world production continues to rise

According to the information, which has provided the company «World Bureau of Metal Statistics», for the period from January to November 2013 the number of copper on the world market has increased to an excess in the amount of 375 thousand tons, which is up to the consumed volume in the period, according to experts, it was 19.285 million tons, while production of refined metal increased by 6.4%, which amounted to 19.66 million tons. Earlier analysts «Barclays» changed their forecasts about the cost of copper in 2014 upwards, helped improve the prospects regarding demand for metals.

Experts predict that copper costs in 2014 will amount to 7125 dollars per ton, in addition, analysts expect the red metal market shift in excess, and that, accordingly, impact on prices, despite the fact that the expected period of redundancy is expected to be short enough, and surplus small. Earlier, analysts «International Copper Study Group» speculated that the amount of produced refined copper will grow by 5.5% this year, relative to 2013, which eventually will be 22.1 million tons, while copper production growth in 2013 is expected to be 3.9% to 20.9 million tons.

And China's demand for copper, which is used for power transmission lines, continues to grow, and will increase by 6% in comparison with the data of the previous year, according to forecasts «CityGroup» analysts the company in 2014 for the full year. 2014 will continue to 2013th in terms of favorable demand for the red metal, so it is not for the new record levels around the corner. Last year, the metal consumption increased by 10.6% in the country, which accounted for 8 million tons.

The cost of copper has recently continued to increase, while the stocks are gradually reduced. In this scenario, even if the decline rate of development of China's economy, the development of infrastructure — power lines and including — stops. In addition, copper is an integral part for many other areas, so that the price of this metal are unlikely to decline.

In 2014, the planned development of copper-pyrite deposit in the second half
«Lake» on Uchaly GOK. According to experts inventory «of the Lake» are about 6 million. Tons of ore. In the near future it is planned commissioning of «ventilation» of the mine, in 2014 ore production could reach 300 thousand. Tonnes.

See all news