| Abstract: | Copper demand is expected to turn down in the latter part of 1989 and then dip further in 1990. The slump in demand is expected to be modest, however, much less severe than the post oil shock recessions of the mid-1970s and early 1980s. By 1991 a healthy growth is expected to resume. However, major expansions to production capacity are in track and excessive production is expected to keep the copper market in surplus for the next five years. Thus, prices are expected to decline sharply and remain at quite low levels through the mid-1990s. |
