An expected copper surplus may not materialise next year, according to Glencore, the third-biggest producer of copper in the world.
Strong Chinese demand and expected mining disruptions could lead to a deficit of up to 1.8m tonnes, Telis Mistakidis, head of copper at Glencore, said at the company’s investor day in London yesterday.
“We don’t see the surplus,” Mr Mistakidis said. “Every time we’ve come toward this so-called glut it kind of disappears.”
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