Will be SP supportive if...

Will be SP supportive if correct

http://www.bloomberg.com/news/2012-07-17/looming-copper-surplus-contracting-as-mining-fails-commodities.html

Looming Copper Surplus Contracting as Mining Fails

By Maria Kolesnikova and Agnieszka Troszkiewicz - Jul 19, 2012 8:53 AM GMT+1000

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Analysts are slashing predictions for the first copper glut in four years as producers from Chile to Indonesia contend with aging mines and strikes at a time of record demand.

The global surplus will total 18,500 metric tons, according to the median of 22 analyst estimates compiled by Bloomberg, 85 percent less than a January forecast of 124,000 tons. Barclays Plc expects shortages in the first half of next year and Morgan Stanley and JPMorgan Chase & Co. anticipate an annual deficit. Prices will rally as much as 14 percent to $8,700 a ton by Dec. 31, the median in a survey of 15 analysts shows