According to the forecasts of the analysts this year there may be an excess of “red” metal at the level of 43 thousand tons. By experts assessments, global demand for copper to grow by 6.5% in 2010 while supply to rise by 0.3% only.
It was informed earlier that bank analysts of Societe Generale are waiting for growth of price for copper. In accordance with their forecasts the average price for metal by Q4 will increase by 17% and reach $ 7865 per ton. And in the next year copper will be traded for over $ 8000/t and by 2014 to climb to $ 8800/t.
Simultaneously, this year demand for “red” metal to exceed supply by 24 thousand tons. Next year global shortage of copper to reach 29 thousand tons.
Senior manager of non-ferrous metals froup at CRU Group Paul Robinson expressed an opinion that copper price to increase to $ 7000-7200 per ton in 2010.