Hindustan Copper’s Ahmed Says Japan Rebuilding to Boost Demand

Shakeel Ahmed, chairman of Hindustan Copper Ltd. (HCP), India’s sole miner of the ore, comments on copper demand and prices once Japan starts rebuilding regions devastated by the earthquake and tsunami. He spoke in an interview in Kolkata yesterday.

“Japan consumes only 5 percent of the global copper demand, but as soon as reconstruction starts, this demand will go up. Prices, however, will not be influenced by Japan.”

On the Libya impact:

“The unrest in Libya will not have a direct bearing on copper prices. If the overall economic condition in the world deteriorates, or if industrial growth slows due to sustained higher crude oil prices, then those may see copper demand decreasing. As a result, prices may go lower too.”

To contact the reporter on this story: Pradipta Mukherjee at pmukherjee7@bloomberg.net

To contact the editor responsible for this story: Arijit Ghosh at aghosh@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.