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Article: World surplus expected to grow to 85,000 metric tons.
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- Purchasing
- Article date:
- June 12, 2008
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By Tom Stundza
The world copper market is forecast to move into a surplus this year, and should expand in 2009, as refined copper output grows and copper demand growth rises at a slower pace, the International Copper Study Group says in a report. The world refined copper market is forecast to be in surplus of 85,000 metric tons in 2008, from a deficit of 40,000 metric tons in 2007. The ICSG report estimates the global copper market to be in a larger surplus of 430,000 metric tons in 2009.
In 2008, significantly lower growth in apparent refined usage in China and a decrease in the U.S. are expected to result in world usage growth of around 2%, which is ...