Chinese copper plants increased metal production in the first 2 months of 2017 to a record high. Refined copper production in China rose 6.7 percent to 1.37 million tonnes, the statistics bureau said Friday. In addition, in 2016, the Chinese also increased their imports of copper concentrate.
Goldman Sachs analysts estimate, however, that the copper market could experience prolonged supply disruptions from the world's two largest copper mines in Chile and Indonesia, leading to a tighter market situation in the coming weeks. They believe that the recent increase in copper reserves is temporary.
Other metal market experts estimate that the copper deficit in the world market could drag on for years. Already on Thursday, LME copper received $ 45 and rose to $ 5909.00 per ton. Copper has skyrocketed 16 percent over the past year.
China produces record amount of copper since the beginning of the year
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Azovpromstal® 17 March 2017 г. 12:27 |
