China keeping copper supplies tight

Falconbridge: “Strong demand from China will keep the world copper market in a supply deficit next year, Canada’s Falconbridge Ltd. said on Monday.

But the deficit should shrink to 372,000 tonnes in 2005 after swelling to 799,000 tonnes this year as more metal is produced, Ian Pearce, Falconbridge’s vice president for projects and engineering, told an international meeting of miners. ‘China is driving copper demand,’ Pearce told a meeting of miners. ‘By 2010, China will account for 25 percent of the world’s consumption of copper.’ “

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