There’s still some uncertainty regarding how soon copper will shift into deficit. However, positive arguments for the copper price got some support on Friday when a report from Bloomberg stated that five of the world’s largest mining companies have all said good things about the red metal over the last month.
BHP Billiton (NYSE:BHP,ASX:BHP,LSE:BLT) CEO Andrew Mackenzie sees copper as the exception in an otherwise uninspiring market space, while Jean-Sebastien Jacques of Rio Tinto’s (NYSE:RIO,ASX:RIO,LSE:RIO) copper division simply said in an interview, “we love copper.”
Meanwhile, Antofagasta’s (LSE:ANTO) Diego Hernandez continues to be skeptical of a copper surplus, with Glencore (LSE:GLEN) CEO Ivan Glasenberg echoing that sentiment, telling shareholders on May 7 that his company believes copper is moving into deficit. For his part, Freeport-McMoRan (NYSE:FCX) Chief Executive Richard Adkerson has reaffirmed his belief in copper’s strong mid- to long-term fundamentals..
Quelle: infomine.com
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