Friday, June 20, 2014

Copper demand to overtake surplus by 2019: Zimtu

Copper demand to overtake surplus by 2019: Zimtu
Demand for refined copper will overtake the current surplus by 2019, says Zimtu analyst Derek Hamill.
"Copper supplies are likely to exceed demand in 2014 and 2015; we further expect this situation to persist for 2016 and 2017," Hamill writes in a report titled Multi-Year Global Copper Market Outlook.
Copper demand is intensifying due largely to continued urbanization and industrialization in Asia, particularly China and India.
Hamill also notes that copper mining economics are "changing dramatically" because of rising operating costs, higher regulatory hurdles and declining grades, and that should increase prices.
"Over the 10 year forecast period, copper price are likely to rise as capital costs and regulatory risks for large scale mining development projects have become significant hurdles deterring investment into future production."
Read the full report below or download the PDF.

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