Copper supply is expected to exceed demand by a substantial margin in 2014, threatening the outlook for an already-beaten-up Canadian mining sector.
The median analyst estimates for global copper supply and demand suggest an oversupply of 408,000 metric tons for 2014. This would be the largest surplus since 2001, a year when the copper price fell 19.4 per cent.Report Typo/Error
- First Quantum Minerals Ltd$15.59-0.25(-1.58%)
- Lundin Mining Corp$7.02+0.03(+0.43%)
- Turquoise Hill Resources Ltd$4.65-0.02(-0.43%)
- HudBay Minerals Inc$9.36-0.12(-1.27%)
- Sherritt International Corp$1.40+0.01(+0.72%)
- Capstone Mining Corp$1.32-0.03(-2.22%)
- Major Drilling Group International Inc$6.61+0.28(+4.42%)
- Copper High Grade Front Month Futures$2.64+0.02(+0.90%)
- Updated December 9 3:59 PM EST. Delayed by at least 15 minutes.