Southern Copper Maintains Forecast for 2012 Copper Prices-Shanghai Metals Market

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Southern Copper Maintains Forecast for 2012 Copper Prices

Industry News 08:47:34AM Jun 20, 2012 Source:SMM

Jun 19, 2012 (Dow Jones) LIMA--Southern Copper Corp. (SCCO, SCCO.VL) Chief Executive Oscar Gonzalez Rocha said Tuesday that the company is maintaining its forecast for copper prices this year, despite ongoing troubles in the global economy.

Mr. Gonzalez Rocha told Dow Jones Newswires that Southern Copper sees copper averaging $3.80 a pound in 2012, the same forecast it had at the start of the year.

Copper prices have fallen this year as concerns for the health of the global economy weigh on the outlook for copper demand.

On Tuesday, copper prices closed at about $3.43 a pound.

"We hope that the price of copper recovers in the second half" of this year, Mr. Gonzalez Rocha said.

Southern Copper is one of the world's biggest producers of the metal. It operates mines, smelting and refining facilities in Mexico and Peru.

Southern Copper is majority-owned by Grupo Mexico (GMEXICO.MX).

 

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Southern Copper Maintains Forecast for 2012 Copper Prices

Industry News 08:47:34AM Jun 20, 2012 Source:SMM

Jun 19, 2012 (Dow Jones) LIMA--Southern Copper Corp. (SCCO, SCCO.VL) Chief Executive Oscar Gonzalez Rocha said Tuesday that the company is maintaining its forecast for copper prices this year, despite ongoing troubles in the global economy.

Mr. Gonzalez Rocha told Dow Jones Newswires that Southern Copper sees copper averaging $3.80 a pound in 2012, the same forecast it had at the start of the year.

Copper prices have fallen this year as concerns for the health of the global economy weigh on the outlook for copper demand.

On Tuesday, copper prices closed at about $3.43 a pound.

"We hope that the price of copper recovers in the second half" of this year, Mr. Gonzalez Rocha said.

Southern Copper is one of the world's biggest producers of the metal. It operates mines, smelting and refining facilities in Mexico and Peru.

Southern Copper is majority-owned by Grupo Mexico (GMEXICO.MX).