|
Business |
Copper remains strong: OTML report
By HELEN REI
LEADING market
researchers have predicted that copper prices will remain strong
for the remainder of this year.
Reports from Ok Tedi Mining Ltd’s marketing administration team
revealed that refined copper consumption demand was still
strong.
This is despite the demand being weaker in some industrialised
countries like the US, from both the construction and auto
sectors.
Although South Korea, one of the countries that imports copper
from OTML, has a weak demand, overall outlook for copper remains
positive this year.
Copper price at the moment is US$3.26/lb (K9.47/lb) which is the
annual average forecast price predicted by the respected London
based copper analysts.
The range of copper price for this year has been from a low
US$2.37/lb (K6.89/lb) to a high of US$3.73/lb (K10.84/lb).
OTML’s marketing team said that the current price was a good
average to use for the next two years.
 
|
