Home / Metal News / Copper / Copper May be in 550,000 Ton Deficit in 2011 on Low Stocks, Macquarie Says
Copper May be in 550,000 Ton Deficit in 2011 on Low Stocks, Macquarie Says
Dec 27,2010 13:43CST
industry news
Source:SMM

Dec 27 (Bloomberg) --  The global copper market is estimated to have a 550,000-metric ton deficit next year as falling stockpiles push prices to $5 a pound, Macquarie Bank Ltd. said in a research report today.

The forecast was based on an assumption of 4 percent mine supply disruption, or 720,000 tons, with global stocks falling to below three weeks of world consumption, according to the report. It also excluded material that may be held by exchange- traded products launched by BlackRock Inc. and JPMorgan Chase & Co., it said.

The final 2011 copper deficit could be bigger as the bank believes the Securities and Exchange Commission will approve the introduction of the ETF products, said Macquarie. 
      

 

consumption
copper Cu
demand
inventory

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news