Chilean copper board cut copper prices and production this year

San Diego (CNFIN.COM/XINHUA08.COM) - 8 Chilean copper committee released a study predicts that this year average price will fall to $3.27 a pound copper prices, the country's copper production are also expected to reduce to 5.53 million tons, below the commission in April this year to $3.57 per pound and 5.58 million tons of production forecast?
The report points out, cut production of copper and copper is given from 2013 to 2017, the world market is expected to maintain a certain amount of residual copper products inventory, and the world's biggest copper consumer products slowing growth in China and the United States fiscal stimulus may be an early end to the world economy to bring greater uncertainty?
Looking ahead to 2014, the Chilean copper committee believe that the average price of copper is expected to be $3.15 per pound, and lower than expected in April this year at $3.32 per pound? Production, although the expected decline, but is still expected to more than a year to produce 98000 tons of?
Chilean copper board predicts that this year there will be 209000 tons of copper products inventory surplus, next year may increase to 310000 tons? The committee report also believes that worldwide in 2014 copper products demand is expected to increase 3% to 21.3 million tons, 45% of them from China?
According to the report, global copper production is expected to reach 17.6 million tonnes this year, 3.2% year-on-year growth, global copper production will grow by 3.9% in 2014, 18.3 million tons?