Copper prices and market strength remain as unpredictable as ever. In the short term there is no question that demand fundamentals, particularly in China, have put a bit of a dampener on market expectations. China, the powerhouse of copper consumption over the past two decades, has seen a slowing in real copper demand growth in 2012/2013 some would even argue an overall contraction in use while inventories in the country have risen.
Over the mid to longer term, the picture is one of continued volatility, high premiums and mine supply concerns. Within the base metals complex copper's fundamentals remain strong. Exchange stocks are at their lowest levels in five years, demand is gradually recovering in the USA and other developed countries, and there is further infrastructure and consumer spending to come in China and the emerging markets.
Mine-side supply slippage will also help underpin market balances and prices. Ore grades globally continue to decline while mining costs rise, and interest in new mining provinces in Africa and Asia remain strong.
Metal Bulletin Events' 9th Asia Copper Conference will again this year be hosted as part of CESCO's Asia Copper Week and in conjunction with CESCO and China Minmetals Corporation. Please refer to www.asiacopperweek.com If you would require more detailed information about CESCO Asia Copper Week. The conference will provide key industry players the opportunity to network and create relationships, as well as provide an ideal forum for delegates to analyse and discuss the key challenges facing copper as we move into 2014.
Topics to be covered include:
~Copper mining and new projects around the globe-Asia, Chile, North America
~Global and regional outlook of copper supply/demand balance
~The development of commodity markets with the current global macro-economic situation
~China's story - production capacity of refined copper, demand and the influence of China's on global commodity markets
~Copper concentrates in the global market, with particular focus on Asia-Japan
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