Copper to Swing to First Surplus Since ’09, Pan Pacific Says
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World copper supply may outstrip demand in 2013 for the first time in four years as mine output rises, according to Pan Pacific Copper Co., Japan’s top producer.
Supply will exceed demand by 199,000 metric tons, compared with deficits of 95,000 tons in 2012 and 132,000 tons in 2011, said Toshitaka Nakamura, senior executive officer for marketing in the joint venture between JX Nippon Mining & Metals Corp., a unit of JX Holdings Inc., and Mitsui Mining & Smelting Co.