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Recent Increase in Copper Supply Unlikely Continue in Near Term - Freeport
Oct 26, 2016 15:16Source:SMM
Freeport-McMoRan Copper & Gold Inc. expects no more growth in global copper production in the near term due to completion of new projects and low copper prices, wenhua.com reported.
SHANGHAI, Oct. 26 (SMM) - Freeport-McMoRan Copper & Gold Inc. expects no more growth in global copper production in the near term due to completion of new projects and low copper prices, wenhua.com reported.
Copper supplies have posted sharp growth in recent years mainly because of commissioning of new projects by mines and smelters, said Richard Adkerson, CEO of Freeport at the company’s Q3 press conference.
New projects have been completed. When combined with low copper prices, copper supply will not increase in the near term, he added.
Freeport expects to produce 4.8 billion pound of copper in 2016.
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