Freeport Says Copper Cuts Not Enough to End Surplus in 2016

  • A new wave of mining expansions means demand is lagging output
  • Market set to shift to deficit from next year, Targhetta says

Copper-output cuts spurred by lower prices aren’t enough to end a surplus this year and demand won’t catch up with supply until 2017, according to a senior official at Freeport-McMoRan Inc., the largest publicly traded producer of the metal.

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