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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (41829)	8/19/2009 10:08:53 PM
From: LoneClone	Read Replies (1) \| Respond to of 194406

Copper deficit in 2010, price may reach $7 500/t – GFMS miningweekly.com By: Martin Creamer 19th August 2009 JOHANNESBURG (miningweekly.com) – A copper deficit of 88 000 t is likely in 2010 when the copper price may top $7 500/t, London base-metals consultancy GFMS forecast on Wednesday. GFMS said that the 88 000-t 2010 deficit forecast was the result of a strong recovery in consumption and slower mine production. It expected the deficit to grow to 121 000 t in 2011 and to 176 000 t in 2012, which would trigger additional investor interest. Copper's cash quote had more than doubled to $6 419/t from $3 051/t and the downside potential was limited. Strong Chinese consumption and an expected late-2009 recovery elsewhere would result in marginal growth for 2009 as a whole. GFMS expected the copper surplus to drop to 245 000 t, from an earlier estimate of 441 000 t. Fourth-quarter copper prices of $6 500/t would not be surprising during the current period of a shortage of concentrate. The consequent decline in spot treatment charges was sending "bullish" long-term signals through the market.