Unexpected mining cutbacks point to copper price recovery
With mines producing less, any surplus is expected to be soaked up by top user China, say analysts
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
London
COPPER mines from Australia to Zambia are confounding forecasters as slumping prices and mine disruptions threaten to erase a global production surplus.
Companies including BHP Billiton Ltd and Rio Tinto Group have reported accidents and equipment breakdowns while announcing 2015 spending cuts that Macquarie Group Ltd estimates at US$20 billion. The unexpected reductions mean mines may produce less, with any excess gobbled up by expanding government stockpiles in China, the top user, Bloomberg surveys of analysts showed.
Share with us your feedback on BT's products and services
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
