Copper-Inflow Chatter Masks Looming Deficit, Top Miner Says
- Codelco’s Landerretche says metal has a ‘promising future’
- Predicts widening market deficit amid dearth of new projects
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A surge in copper stockpiles isn’t sounding any alarm bells with the world’s biggest producer as supply struggles to match demand.
After tumbling to a four-month low in June, global warehouse inventories have jumped about 15 percent this month, spurring concern that demand for the metal used in wiring and plumbing is waning. Prices have retreated in July.