SG:Copper demand forecast to remain robust despite Chinese slowdown
BNamericas reported that copper demand will remain strong despite the recent downgrade to China's GDP forecast.
Mr Fernando GarcĂa senior VP of the copper division at engineering firm SNC Lavalin Chile said that "The market is worried about demand for copper and other commodities as a result of the cut to China's economic growth estimate for this year to 7.5% but demand growth will remain robust."
Mr GarcĂa said that "Even if China grows at only 5% for some years, demand will continue to grow at good rates and supply will continue to fall short of demand."
He said that as a result, copper prices will remain at high levels for a long time. I may not be the most suitable person to predict but I believe all the indicators point towards that. The current price cycle is extending for a longer period than usual and will stay there for even longer.
