- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Output Cuts Likely Won't be Enough to Buoy Copper Prices
Reuters reported that while copper miners may indeed cut output in 2016, any cuts likely won’t be enough to balance out weak prospects for Chinese demand growth.
Don’t miss the latest news on the copper price and copper prices. Check out our Brief Overview of the Copper Price Today.
Reuters reported that while copper miners may indeed cut output in 2016, any cuts likely won’t be enough to balance out weak prospects for Chinese demand growth.
That’s bad news for miners — at the moment, Thomson Reuters GFMS believes that currently about 50 percent of mines are losing money on a total cost basis.
The news outlet states:
CRU expects copper prices to average around $4,600 a tonne this year.
“We do anticipate additional cutbacks of another 185,000 tonnes this year … It’s a significant number that will help to balance the market, but a lot of loss-making mine capacity remains in operation.”
Any cuts will go some way towards offsetting new capacity of almost 1 million tonnes from mine projects expected to start up in the next year or so.
But they are unlikely to be large enough to balance the copper market, which according to a Reuters survey is expected to show a surplus this year of 150,000 tonnes.
The forecast for the average copper price this year at $4,858 a tonne is the lowest since the average of $3,600 in 2005 when the commodities super-cycle was starting, fuelled by China’s industrialisation and urbanisation.
Latest News
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.