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Copper-Surplus Estimate Quadruples at CRU as China Slows Down 2014-03-25 12:31:37.769 GMT
By Maria Kolesnikova, Agnieszka Troszkiewicz and Arie Shapira March 25 (Bloomberg) -- Copper market surplus this year will be almost four times bigger than prev. estimated as demand slows in China, according to CRU. * Production to outpace demand by 140k mt; excess will widen to ~250k in 2015 before exceeding 400k a year later * Copper at $7k/t prev. a “very firm floor,” now “more of a ceiling” * NOTE: Copper for delivery in 3 mos. up 1.2% today to $6,548/t on LME Story: NSN N2ZRQ46KLVSV <GO>
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To contact the reporters on this story: Arie Shapira in New York at +1-212-617-1488 or ashapira3@bloomberg.net; Maria Kolesnikova in London at +44-20-7073-3306 or mkolesnikova@bloomberg.net; Agnieszka Troszkiewicz in London at +44-20-7673-2967 or atroszkiewic@bloomberg.net To contact the editors responsible for this story: Joanna Ossinger at +1-212-617-7789 or jossinger@bloomberg.net Phil Kuntz