China Metals Market may See Eased Oversupply, Experts
[2009-06-24]
The oversupply of China's nonferrous metals market is expected to get relieved due to mining companies' output cut or some postponed projects, said experts at 2009 Nonferrous Metals Mining Forum.
Shang Fushan, vice chairman of the China Nonferrous Metals Industry Association, said that the domestic mineral product output will continue to grow, but the growth rate may drop if some high-cost mines can't come on stream on schedule. The earlier sharp slump of metals prices has cooled down investors' enthusiasm in mining industry, Shang added.
Li Yusheng, an analyst with Beijing Antaike Information Development Co., held that the mines' production cut or the projects' delay will help relieve the oversupplied market and meanwhile support the price.
According to Li, base metals prices in China experienced plunge in the fourth quarter last year, with the prices of aluminum, zinc and nickel having dived to the level of production cost.
Shang Fushan, vice chairman of the China Nonferrous Metals Industry Association, said that the domestic mineral product output will continue to grow, but the growth rate may drop if some high-cost mines can't come on stream on schedule. The earlier sharp slump of metals prices has cooled down investors' enthusiasm in mining industry, Shang added.
Li Yusheng, an analyst with Beijing Antaike Information Development Co., held that the mines' production cut or the projects' delay will help relieve the oversupplied market and meanwhile support the price.
According to Li, base metals prices in China experienced plunge in the fourth quarter last year, with the prices of aluminum, zinc and nickel having dived to the level of production cost.
Source: chinamining.org
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