Codelco, Freeport see scrap as a swing factor
Nov 26, 2013 | 11:44 AM
| Mark Burton
LONDON The supply surplus emerging in the refined copper market is insignificant compared with the large swings in the supply of copper scrap as prices fluctuate, according to senior executives at Corporación Nacional del Cobre de Chile (Codelco) and Freeport-McMoRan Copper & Gold Inc.
The consensus among analysts is that the copper market could have a surplus of about 200,000 to 300,000 tonnes in 2014 after recording a narrower surplus this year.
The surplus is relatively modest in the context of the 21-million-tonne refined copper market and could be offset quickly if there is a further deterioration in the supply of scrap, Javier Targhetta, senior vice president of sales and marketing at Phoenix-based Freeport-McMoRan, told AMM sister publication Metal Bulletin in Shanghai.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.