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Copper

Author

Listed:
  • Ecaterina Patilea

Abstract

The article presents the global copper market evolution in 2012 and its prospects for 2013. The paper analyses the world production and consumption of refined copper mining, and also the evolution of quotes and stocks on the London Stock Exchange. In 2012, the copper price dropped due to a lower demand, both from China, the biggest consumer and importer, but also from the U.S. Many mining projects were delayed and utilization of production capacity in the copper industry decreased significantly. The production-consumption balance recorded a significant deficit. Quotations dropped both cash and futures by about 10% in terms of annual average in 2012/2011. Closing stocks were higher compared to the previous year. Forecasts for 2013 show a production-consumption deficit, with an impact on prices, predicted by various sources at between 7938-8863 US dollars/ton.

Suggested Citation

  • Ecaterina Patilea, 2013. "Copper," Conjunctura economiei mondiale / World Economic Studies, Institute for World Economy, Romanian Academy.
    • Handle: RePEc:iem:conjun:y:2013:id:2822000009562099
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    More about this item

    Keywords

    steel; world market; production; consumption; trade; prices;
    All these keywords.

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General

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