SHANGHAI, Mar. 22 (SMM) – Copper mining companies both in China and world faced tough time in 2015 as copper prices tumbled. What’s the outlook for copper ore supply in 2016?
“Global copper ore supply is expected to be sufficient in 2016 and 2017 due to output from new and expansion projects in major producing countries,” SMM copper analyst told the attendees at 2016 SMM Copper&Aluminum Summit from Mar. 17-18.
Ore supply is expected to grow by 3-4 percent in 2016, the analyst predicted at the summit, higher than the 1-2 percent increase.
“Many Chinese copper mines suspended production, with private mines taking the majority part, in 2015 due to big losses, but domestic output is expected to grow slightly in 2016 because of expansion plans in Tibet, Inner Mongolia, etc.”, the analyst pointed out.
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