Copper Faces at Least Two More Years of Pain, Rio Estimates
- Metal fell below $4,500 a ton for first time since 1999
- Producer says is more optimistic on longer term demand
Rio Tinto's Jacques Sees Copper Prices Recovering
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The copper market is facing two or three years more of pain, though the good news for the metal, which hit a six-year low this week, is that it will recover faster than other commodities, according to Rio Tinto Group.
Copper has tumbled 26 percent this year as China’s faltering expansion curbs demand and with the dollar trading near its highest level since at least 2005, making commodities more expensive for buyers in other currencies.