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Copper looking at deficit

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The global copper market moved into deficit last year, with the International Copper Study Group estimating a seasonally adjusted refined deficit of some 60,000 tonnes in September 2010, the most recent figure available. All signs indicate that deficit conditions will continue through 2011.

Copper ore producers have sought to expand production to meet the improved physical market, which in many cases has made the copper price a good deal higher than the marginal cost of production, which in turn has attracted capital expansion dollars to brownfield and greenfield projects.

Top Copper Producers
(in thousands of tonnes)
Freeport-McMoRan Copper & Gold. Inc.3,944.00
Corporacion Nacional del Cobre de Chile1,955.00
BHP Billiton Ltd.1,085.70
Xstrata Plc894
Rio Tinto696.2
Anglo American Plc683.4
Antofagasta Plc508
MMC Norilsk Nickel500
Grupo Mexico SA de CV486
KGHM Polksa Miedz SA400
Kazakhmys Plc345.9
Teck Resources Ltd.286
First Quantum Minerals Ltd.227
Vale SA163
Lundin Mining Corp./Somincor SA79


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Latest Pricing Trends Year Over Year

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After witnessing the pace of steel plant idlings and worker layoffs during the first half of the year, what is your view of the second half of 2015? (choose one)

No matter what else happens, layoffs and shutdowns, etc., have nearly or essentially stopped for the year.
The environment will change little and the pace of layoffs will continue at a similar rate as the first half of 2015.
The environment will change little yet the pace of layoffs will begin to slow slightly to moderately.
The environment will change little yet the pace of layoffs could exceed the rate seen thus far.
The environment will improve slightly to moderately yet hiring and plant restarts will not resume this year.
The environment will improve slightly to moderately, with hiring and plant restarts commencing.
The environment will improve dramatically yet hiring and plant restarts will still be negligible in comparison.
The environment will improve dramatically yet hiring and plant restarts will only be slight to moderate.
The environment will improve dramatically, with hiring and plant restarts occurring nearly in tandem.


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