Copper surplus likely to be marginal: exec

Oct 10, 2013 | 01:54 PM | Andrea Hotter

Tags  Antofagasta, copper surplus, Diego Hernandez, Andrea Hotter

LONDON — A growing copper surplus is the result of rising supply rather than slowing demand, but it is still likely to be marginal and could be easily reversed if projects experience problems, according to Antofagasta Plc chief executive officer Diego Hernandez.

Hernandez said the surplus, which will emerge during the fourth quarter and last into the next couple of years, will be smaller than expected and probably marginal. "It’ll be less than 200,000 tonnes," he told AMM. "If China rebuilds its inventories or consumes just a little more, we would have a quite tight supply-demand balance for the full year."....

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