"People have also been looking at a resumption of copper production at Freeport, and the possibility of a resolution of the strike at Escondida soon," he said, adding that speculators were now locking in profits. "In the background, the physical trade is tightening day by day. We are still bullish copper." The global copper market is expected by some analysts to fall into deficit this year for the first time in half a decade after a series of mine disruptions crimped supply amid solid China demand.
"People have also been looking at a resumption of copper production at Freeport, and the possibility of a resolution of the strike at Escondida soon," he said, adding that speculators were now locking in profits. "In the background, the physical trade is tightening day by day. We are still bullish copper." The global copper market is expected by some analysts to fall into deficit this year for the first time in half a decade after a series of mine disruptions crimped supply amid solid China demand.