Codelco: Actual Shortage to Raise Copper Price above $10,000 per Tonne

Published: Nov 1, 2017 10:21

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The world’s largest copper producer Codelco provides the most optimistic prospect of copper market, saying the balance of demand and supply for copper will convert to “actual” shortage in 2018.

SHANGHAI, Nov.1 (SMM)－The world’s largest copper producer Codelco provides the most optimistic prospect of copper market, saying the balance of demand and supply for copper will convert to “actual” shortage in 2018. The copper price is likely to break $10,000 per tonne, setting new historic high.

The copper output of Codelco accounts for nearly 10% of the global output. The prediction is a huge change of its attitude as the producer is not very optimistic toward future copper market just a few months ago.

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