Glencores opinion on copper

http://www.northweststar.com.au/sto...ina-fuels-optimism-for-local-industry/?cs=191

Ivan Glasenberg a man who has little need to BS.

WORLD COMMODITIES OUTLOOK:   We are optimistic.
As growth continues in China, that's good for our business.
China is talking about 7.5 per cent growth this year. I believe if they do reach that level and maintain that level of growth, it's good for our business.
You've got to remember that   approximately 50 per cent of our commodities are consumed in China today.

COPPER CONFIDENCE:   We have to watch oversupply against the demand. The demand is good.
[Up until] 2008, the demand in most commodities has been relatively strong: the problem is the mining industry overproduced and we oversupplied.
We really need to monitor supply coming into the market.
But it's not so bad with copper, because there aren't new big copper developments around the world, because copper grades are decreasing over the world.
With copper we feel comfortable  and very confident of its future.

We like buying other people's operations that they've developed and we think we can buy them cheaper than what it costs to build them.......