Here is the web address of the International Copper Study Group. It is the best web site on this topic I have found.
icsg.org
In their July report they said that in the period from January to April their was a small deficit in world supply/demand of some 40,000 tonnes. However, I read a report recently that (in August ?) they increased this year's deficit to over 200,000 tonnes to the end of MAY..... (they revised the Jan to April figures as well as quoting increased demand for May). Unfortunately I cannot find that report on their web-site; indeed I am not sure whether it was their report !
Stephen, In their 2nd quarter report, Rio Algom quoted Brook Hunt as making the following forecasts of supply/demand and price. The deficit is expected to decline next year because of increased supply, but demand and price are expected to continue to climb.
world copper supply/consumption and prices
2000 12,283kt/12,513 (deficit 230kt) LME avg .83c
2001 12,850kt/12,952 (deficit 102kt) LME avg .94c
2002 13,190kt/13,365 (deficit 175kt) LME avg $1.18 |
