Copper Deficit May be 600,000 Tons, JPMorgan Says
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The world refined copper market is expected to have a 500,000-metric-ton to 600,000-ton deficit in 2011, even with a significantly weaker demand scenario, according to JPMorgan Securities Ltd.
Disruptions last year seemed to have wiped out most of mine supply growth, metals strategist Michael Jansen told a conference in Shanghai. “As demand further recovers into 2011, supply-side issues will become more influential,” he said.