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$13.99+0.45(+3.32%)
- Lundin Mining Corp$9.41+0.12(+1.29%)
- Turquoise Hill Resources Ltd$3.92+0.09(+2.35%)
- HudBay Minerals Inc$10.72+0.34(+3.28%)
- Sherritt International Corp$0.900.00(0.00%)
- Capstone Mining Corp$1.24+0.02(+1.64%)
- Major Drilling Group International Inc$8.00-0.14(-1.72%)
- Copper High Grade Front Month Futures$2.980.00(0.00%)
- Updated August 23 3:46 PM EDT. Delayed by at least 15 minutes.