Next year the copper center of gravity down to $6700

发布时间：2013-12-14 点击次数：19次 来源：原创

SMM November 20thnews: 19 days,Shanghai nonferrouscopperindustry analysts Wang AnninginChinesenonferrous metal industrysponsored by Shanghainonferrous metalsnetannual meeting2014 copperforecast,gravitywill continue tomove down,fold to 6700U. S. dollars / ton,the overallemerged after the former high-lowtrend.

She is expected topeakin2014,before and afterChinalunar new year,becauseat that timetherewereearlylibrarydemand andample liquidityandlow;maywith the MarchQE bootcut,graduallyfell to $6400/ tonnear theextreme,mayto US $6200 / ton.

Copper pricesdownward,fromthe copper marketoversupplyis expected to strongly.From the fundamental point of view,Wang Anningis expected in 2014the overallglobalcopper300000 tons of excess,growthfactorChinadomesticrefined copper outputspeed up,anddemand slowdown.

According to the SMMsurvey,the currentdomesticcopper smelting industryoverall operating rateismore than 90%,is expected in 2013refined copperoutput of about 6450000 tons,grow 10.7% compared to the same period,with the future ofnew capacityof productionandscrap supplytensioneased,is expected in 2014Chinarefined copper outputyear-on-year growth ratein12% the left and right.

Electricity demandis still themain impetus forcopperconsumption growth,but its futureinvestmentwill graduallydecline,because"the main investmenttask12th Five Year Plan" periodis mostly done in thelast three years.Affected by this,Wang Anningis expected to increasein 2014compared to the same periodChinacopper demand,or from 6.7%down to 5.2%before thevalue.

<Reprint:fromShanghai nonferrous metalsnet"