rio copper production to drop by 30%, page-4

I wouldn't hold my breath regaring rio's production, from Reuters today

BUYING ON DIPS
Traders said consumers would start purchasing on dips below $7,100 a tonne, while Chinese buyers have shown modest interest.

"After weakness initially, we have seen short-covering through $7,185 and $7,230. We are now looking at the $7,280 area for a break or pull-back," said a trader in Hong Kong.

Reflecting a market in plentiful supply, little price support came from news that Rio Tinto's Kennecott copper mine in Utah, the second-biggest source of copper in the United States, would see a drop in refined metal output of about 100,000 after a cave-in last Wednesday.