Mining.com reported that a presentation given in London by Glencore’s (LSE:GLEN) copper chief Telis Mistakidis suggests that a copper deficit could be coming much sooner than some think.
Mining.com reported that a presentation given in London by Glencore’s (LSE:GLEN) copper chief Telis Mistakidis suggests that a copper deficit could be coming much sooner than some think.
As quoted in the publication:
Typical disruptions associated with adverse weather, technical problems, power shortages or labour activity make forecasting a tough proposition.
To these variables add more recent factors affecting future supply which includes the fall in the price to near four-year lows which makes it difficult for miners to raise development finance (or raise wages for that matter).
That leads to project deferrals, commissioning delays and changes to mine plans and partly explains why the International Copper Study Group’s benchmark forecast for 2014 swung from a 400,000 tonne surplus in April to a 300,000 tonne shortage just six months later.
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 1860.27 | +6.60 | |
Silver | 21.92 | +0.17 | |
Copper | 4.29 | -0.06 | |
Palladium | 2006.00 | +21.00 | |
Platinum | 956.00 | +3.00 | |
Oil | 110.16 | -0.13 | |
Heating Oil | 3.69 | +0.05 | |
Natural Gas | 8.71 | -0.03 |
DOWNLOAD FREE REPORTS
BROWSE COMPANIES BY SECTOR
- Agriculture Investing
- Phosphate Investing
- Potash Investing
- Base Metals Investing
- Copper Investing
- Iron Investing
- Lead Investing
- Nickel Investing
- Zinc Investing
- Battery Metals Investing
- Cobalt Investing
- Graphite Investing
- Lithium Investing
- Manganese Investing
- Vanadium Investing
- Critical Metals Investing
- Magnesium Investing
- Rare Earth Investing
- Scandium Investing
- Tantalum Investing
- Tellurium Investing
- Tungsten Investing
- Energy Investing
- Oil and Gas Investing
- Uranium Investing
- Gem Investing
- Diamond Investing
- Industrial Metals Investing
- Aluminum Investing
- Chromium Investing
- Coal Investing
- Molybdenum Investing
- Tin Investing
- Precious Metals Investing
- Gold Investing
- Palladium Investing
- Platinum Investing
- Silver Investing
- 3D Printing Investing
- Bitcoin Investing
- Blockchain Investing
- Cleantech Investing
- Cloud Investing
- Cryptocurrencies
- Data Investing
- Emerging Tech Investing
- Artificial Intelligence Investing
- Mobile Investing
- Robotics Investing
- Fintech Investing
- Gaming Investing
- Esports Investing
- Nanoscience Investing
- Graphene Investing
- Nanotech Investing
- Security Investing
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.