Phelps-Dodge is optimistic about the prospects of copper prices
- Categories:Industry News
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- Time of issue:2010-12-08
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(Summary description)On May 16, Phelps Dodge of the United States stated that copper demand is still strong and supply has grown moderately, and the prospects for copper prices are still promising.
Phelps-Dodge is optimistic about the prospects of copper prices
(Summary description)On May 16, Phelps Dodge of the United States stated that copper demand is still strong and supply has grown moderately, and the prospects for copper prices are still promising.
- Categories:Industry News
- Author:
- Origin:
- Time of issue:2010-12-08
- Views:0
On May 16, Phelps Dodge of the United States stated that copper demand is still strong and supply has grown moderately, and the prospects for copper prices are still promising.
Company President and Chief Operating Officer Timothy · Snyder said, "For the prospect of copper prices, our expectations are relatively optimistic. The current market demand is strong. If there are no major economic problems in the United States and China, the demand will continue to be strong. In the long run, no large-scale project will disrupt the balance of supply and demand, and the pressure from the supply side is not great. "It is estimated that the global copper supply in 2005 will increase by 8% year-on-year.
Snyder also pointed out that according to the current consumption level, the current copper inventory can only meet global consumption for three weeks, which is at a historically low level.
Recently, copper prices have fallen sharply. Market participants said that the drop in prices has a lot to do with the sharp strengthening of the dollar. Given the sound fundamentals, copper prices are expected to rebound to reasonable prices.
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