June 2009 | Base Metals
The outlook for copper and the role of the SRB
Our outlook for copper, when allowances are made for further strategic purchases by the SRB, puts copper prices in new record high territory by 2012.
The outlook for copper and the role of the SRB
The accompanying chart shows our forecast copper stock levels to 2012. Global demand growth averages out at around 2.5% a year, which is very conservative. Even so, a series of structural, long-term constraints on supply are so great that next year looks largely balanced already and we see deficits starting in...
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