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Copper Pain Seen Not Deep Enough to Spur Cuts Needed to End Glut
2016-01-08 15:16:22| Footwear - Topix.net
Copper at $2 got the market's attention, but it will fail to spur big enough production cuts to reverse a glut of the metal. Futures, which Thursday traded below $2 for the first time since 2009, could drop as much as 25 percent more before the industry implements "meaningful" reductions in output, according to Kenneth Hoffman, a senior analyst of metals and mining at Bloomberg Intelligence.
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Category:Consumer Goods and Services