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Copper Demand Up

By Staff -- Purchasing, 12/13/2007

Global copper use has increased by 7.5% in the first eight months of the year, according to the International Copper Study Group. But, because new supply has faltered, due to labor strife and plant production woes, there was a world market deficit of 258,000 metric tons, as compared with a 38,000 metric ton surplus in the same period of 2006. Upshot: The eight-month world spot price average of $3.19/lb in 2007 compares with $2.94 average a year ago.

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