Pan Pacific Copper sets back on copper surplus forecast

TOKYO (Scrap Monster): Yoshihiro Nishiyama, the deputy chief officer of the company stated that, the demand will be suppressed by 40,000 metric tonnes this year, and 193,000 tonnes in the next year. According to the company forecasts, announced in the month of July, the surpluses were assumed to be 173,000 tonnes, in 2014 and 292,000 tonnes in the year 2015.

Copper has evolved as one among the lowest 6  metals in LME, and declined  9.2 percent. The Goldman Sachs Group stated that, there would be a major increase in the next six months, based on seasonal factors such as, surplus and the declining economy of China. The export of unprocessed ore was banned in Indonesia in order to increase the investments within the country.

The export ban in Indonesia has led to delays in several projects, shortage in the supply of copper, and the environmental issues and also equipment, reduced increase in surplus estimates. The company is planning to offer the Chinese customers with annual premiums for sale of their refined metals.