Japan's Biggest Copper Smelter Sees Delay in Price Recovery

Reuters reported that Japan’s largest copper smelter, JX Nippon Mining and Metals, expects a recovery of copper prices to take longer than expected.
As quoted in the publication:

In October, the company’s smelting unit, Pan Pacific Copper, predicted copper prices will rise to $6,000 a tonne in the year to March 2017, driven by global production cuts and demand growth in Asia.
“We still expect copper prices to recover toward $6,000 per tonne as we see a supply shortage going forward,” Shigeru Oi, president of JX Nippon Mining & Metals, a unit of JX Holdings Inc, told Reuters in an interview on Friday.
“But it may take longer than anticipated to see a recovery. We may have to wait until the prices of oil and steel bounce back.”

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