lme --- news, page-13

charlie123

In today's "The North West Star" there is a lengthy article titled "Britian's Mr Copper bucks Commodities gloom"

The article is about a Mr Farmer, a London based successful hedge fund manager for the past three years.

In it he says two underlying stories had dominated commodity investing recently that the Chinese economy was slowing down and that metals producers were raising production levels "But in reality demand in China had held up while production had not held up particularly in copper"

He said there has been a list of production problems from mine sites to smelter issues that meant supplies have been lower than expected.

He added that 2014 will start with a very low stock situation and, although it is forecast to be a year of surplus, supplies will be rapidly snapped up and from 2016 onwards will be in deficit.

In another recent article, it has been announced that the open cut operation at Mt Margaret [ part of the Ernest Henry operation] will close in 2014 with the loss of 300 jobs [ miners and contractors].