copper price to rise in 2003

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    Copper seen higher in 2003
    10 January 2003
    HIGHER copper prices are on their way for 2003, according
    to forecasts from the world's top copper producing country,
    Chile.

    The state-run Chilean Copper Commission (Cochilco) said copper would average
    between US74c and US78c this year, up modestly on the 2002 price of between
    US65c and US76c.

    Underpinning the rising price outlook is an expectation that
    demand will outstrip supply, largely because of producer
    cutbacks.

    The International Copper Study Group is predicting copper
    output in 2003 will rise by 2.6% to 15.07 million tonnes while
    consumption is expected to rise by 3.7%.

 
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