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Copper prices likely to keep weak in next 2-3 years

Issue Date:2015-03-31 00:00:00

Copper prices likely to keep weak in next 2-3 years, Jiangxi Copper boss - XINHUN

Date 3/30/2015 9:07:14 AM Source:

Mar.30,2015(SHMET)--

Copper prices likely to keep weak in next 2-3 years, Jiangxi Copper boss

(Xinhua) -- Copper prices are expected to keep weak around the current level in the next two to three years due to China s economic slowdown, industrial reorganization, and strong US dollar, said Li Baomin, chairman of Jiangxi Copper Corp. (600362.SH; 0358.HK), on Thursday.

The benchmark copper futures traded on the Shanghai Futures Exchange (SHFE) fell about 7 percent in 2014.

The sluggish performance has continued so far this year. By Thursday, the SHFE copper futures fell about 3 percent.

Due to weak copper prices, Jiangxi Copper saw its net profits for 2014 fall 20 percent year on year. 

Edited by SHMET

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