LONDON, Jan. 21 message , the survey showed , as new mining copper ore can not be quickly converted into refined metal , copper excess inventory situation next year will be greatly reversed, will help ease the economic growth slowdown and China demand uncertain impact on copper prices.
Situation of excess aluminum will also be eased , but with this metal as collateral for financing transactions market environment will not change soon .
The findings show that this year will be the size of the copper market surplus narrowed to 260,500 tons , less than a quarter of a similar survey in 2014 estimated the size of the surplus of 328,000 tons .
Analysts predict that next year will be further narrowed to excess copper 235,500 tons .
Approximately 33 market participants surveyed last month expect this year's expected average spot price of copper per ton of $ 7,013 , down from $ 7,050 in October when the survey estimates , and also lower than the 2013 average price of $ 7,321.57 to about 4%.
2015 , copper prices expected to average $ 6,854.50 per tonne .
"The new mine supply is not reflected in the new refined copper , which is a bottleneck in the market ," Natixis head of commodity research NicBrown said.
Analysts said the strike led to supply Difficult Chilean ports , combined with Indonesia issued a ban on unprocessed ore exports , which is also the market supply tight.
" As the supply Difficult to say 2013 copper performed well, but fear this trend will not continue in 2014 , especially considering that Indonesia ore export ban brings uncertainty , " said National Australia Bank analyst JamesGlenn .
The main demand outlook weak consumer China also weighed on the market . China's economic slowdown has led to market concerns, worried about the need to reduce spending on infrastructure commodities .
China 2013 economic growth hit a 14 year low last year, the final months of sluggish investment and growth in manufacturing output .
Situation of excess aluminum will also be eased , but with this metal as collateral for financing transactions market environment will not change soon .
The findings show that this year will be the size of the copper market surplus narrowed to 260,500 tons , less than a quarter of a similar survey in 2014 estimated the size of the surplus of 328,000 tons .
Analysts predict that next year will be further narrowed to excess copper 235,500 tons .
Approximately 33 market participants surveyed last month expect this year's expected average spot price of copper per ton of $ 7,013 , down from $ 7,050 in October when the survey estimates , and also lower than the 2013 average price of $ 7,321.57 to about 4%.
2015 , copper prices expected to average $ 6,854.50 per tonne .
"The new mine supply is not reflected in the new refined copper , which is a bottleneck in the market ," Natixis head of commodity research NicBrown said.
Analysts said the strike led to supply Difficult Chilean ports , combined with Indonesia issued a ban on unprocessed ore exports , which is also the market supply tight.
" As the supply Difficult to say 2013 copper performed well, but fear this trend will not continue in 2014 , especially considering that Indonesia ore export ban brings uncertainty , " said National Australia Bank analyst JamesGlenn .
The main demand outlook weak consumer China also weighed on the market . China's economic slowdown has led to market concerns, worried about the need to reduce spending on infrastructure commodities .
China 2013 economic growth hit a 14 year low last year, the final months of sluggish investment and growth in manufacturing output .