In 2014, an excess offer of copper in world markets will reach 600 thousand tons

A further increase in the volume of copper production in the world will lead to an increase in surplus next year: from 380 thousand tons in 2013 to 630 thousand tons in 2014. Such a forecast was voiced by analysts of the International Institute of Copper (ICSG) in lisbon at a conference on the problems of the production and processing of copper.

The main reason for the sharp growth of excessive proposal of copper in the world market will be the launch of new industries in China. In 2013, global copper production will reach 20 million 912 thousand tons, which is 3.9 percent higher than in 2012, and the demand for it will amount to 20 million 525 thousand tons or minus 0.1 percent. In 2014, analysts of the Institute of copper see an increase in production by another 5.5 percent, up to 22 million 60 thousand tons, demand increase by 4.4 percent, up to 21 million 430 thousand tons.

Recall that earlier ICSG predicted that in 2013, exceeding the demand over demand will be 417 thousand tons, and in 2014 - at 682 thousand tons. Analysts explain the correction of their own forecast by the gradual restoration of demand for copper and copper products.