Chinese copper demand to grow for over a decade, Freeport exec says

China's copper consumption will grow for more than a decade as demand from the world's top user of the metal remains robust despite fears of an economic slowdown, a top executive at Freeport McMoRan (FCX) says.

Worries over slower growth in China, which accounts for 40% of global copper consumption, helped send prices to a 44-month low last week, down 12% YTD.

China's import volumes should remain brisk even if its GDP expansion slows to 3%-4%, while a recovery in the U.S. and European economies also should support copper consumption, FCX believes.


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Comments (1)
  • lsuavecito
    , contributor
    Comments (2547) | Send Message
    The whacky Indonesian gubmint is the fly in the ointment here. No wonder the sudden move to diversify into O/G.
    19 Mar 2014, 12:46 PM Reply Like
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