Copper prices likely to ease next fiscal: Hindustan Copper

May 29th, 2012 - 10:10 pm ICT by IANS  

Kolkata, May 29 (IANS) Hindustan Copper Ltd, India’s only copper miner, Tuesday said prices of copper in the international markets are likely be in the range of $7,500-8,500 per tonne this fiscal and might move towards $7,000 next fiscal on the back of expected improvement in supply.

“For the current year, there has been demand-supply mismatch… our projection is there would be 2,50,000 tonnes shortage in this (financial) year. So our expectation is copper prices will be range bound between $7,500 to $8,500,” Hindustan Copper Limited chairman and managing director Shakeel Ahmed said here.

According to Ahmed, the prices of the metal were likely to ease in 2013-14 on the back of expected improvement in supply.

“Next year, supply side is expected to improve. We expect that in the next year, prices may move towards $7,000,” he added.

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