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Gold/Mining/Energy : Copper - analysis -- Ignore unavailable to you. Want to Upgrade?

To: Stephen O who wrote (135)	5/22/2000 11:27:00 AM
From: Stephen O	Read Replies (2) \| Respond to of 2131

Newcrest's copper outlook. An essentially balanced market for 2000 and a 150,000 tonne deficit for 2001. Any supply disruptions, such as smelter downtime and/or a strike could be a rallying point for much higher prices. Net East Bloc exports have declined form 808,000 tonnes in 1997 to an estimated 595,000 tonnes in 1999 and they expect 565,000 tonnes or less in 2000. Net imports to China reached 400,000 tonnes in 1999, over 50% in scrap. Demand in China was at least 1.45 million tonnes in 1999, up nearly 7%. Chinese copper demand is expected to surge by 10% in 2000. Falconbridge T.FL 12 month target $35 Rio Algom T.ROM target $25 Aur resources T.AUR target $3.50 Inmet mining T.INM target $4.50 First Quantum T.FM target $6. First quantum is my favourite of the bunch.