I like the part which says "Mining companies are going to produce an amount ocopper that is not sufficient....... "
Copper May Rise on Speculation Supply Won't Meet Growing Demand
By Claudia Carpenter
Oct. 11 (Bloomberg) -- Copper may rise on speculation that supplies from mines won't keep up with growing demand, forcing consumers to rely on limited inventories.
Labor strikes have helped slow copper-production growth this year, to gains of 2.2 percent from 3.4 percent last year, Standard Bank said in a report yesterday. Inventories reported by the London Metal Exchange fell 125 metric tons today, the second drop this week.
Over the next few years, the mining companies are going to produce an amount of copper that is not sufficient to drive the copper price back down to its traditional levels given the level of demand,'' Brian O'Shaughnessy, chief executive officer of Rome, New York-based Revere Copper Products Inc. said in an interview in London today.
Copper for delivery in three months was little changed at $7,425 a metric ton at 12:55 p.m. in London, after being down as much as 1.2 percent.
