Mining Club

We will once again be assembling an international faculty of industrialists
and economists for 2 days of intense debate and discussion on the most pertinent issues confronting the global copper industry.

Economic realities have taken a back seat at least where copper is concerned. Strategic purchases by China’s SRB and consumer restocking have boosted copper price to levels not supported by real demand - the Chinese market seems to be oversupplied and demand in the EU and the USA has yet to recover. However price levels above $3500 per tonne have encouraged mines to stay open. Concentrates supply remain tight but economic realities are being more acutely felt by smelters and refiners with poor demand for refined copper and excess supply of sulphuric acid leading to cutbacks.

A sustained recovery in the copper market is dependent on Chinese demand, on the success of the exit strategies employed by the major central banks and continued bullish sentiment regarding the economic recovery from the financial markets. None of these factors can be guaranteed. Chinese imports fell back in August due to existing stockpiles and higher overseas price. More sustainable demand for copper and copper intensive products is to a large extent dependent on the rate of recovery in large industrialised regions like North America and the EU and the extent of this recovery is still unclear.

HOW CAN YOU GAIN CLARITY IN AN OPAQUE MARKET?
By attending CRU’s World Copper Conference:

• This event is one of the most influential gatherings of copper industry executives in the world, regularly attracting over 400 delegates
• Hear a programme which includes CEO’s from many of the copper industry’s top miners, leading academics, top analysts and financial institutions
• The conference backdrop is CESCO week, so you will benefit from the conference and many other networking functions besides