Professional Documents
Culture Documents
27 JANUARY 2016
400
18000
Average Selling Price for 2011 - 2015, opening price for 2016
350
16000
300
USd Per Pound
Millions of Tons
14000
12000
10000
8000
250
Total Cost of Production
200
150
6000
100
4000
50
2000
2012
2013
2014
2015
2016
19
99
20
00
20
01
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
97
2011
98
19
19
95
96
19
19
19
94
Source: GFMS Copper Survey 2013 and 2015, Bloomberg Professional (HG1),
CME Group Economic Research Calculations
Its tempting to say that with copper prices as low as they are
currently, that mining companies will cut back on production.
But, the jurys still out. What complicates the analysis is the
fact that we dont have production-cost numbers for 2015 yet,
but there are three reasons to think that they fell significantly:
Figure 3:
Appendix:
250
Government
Private
200
Debt as a % of GDP
150
100
50
ex
ic
o
Ru
ss
ia
ne
si
a
In
di
a
Br
az
il
Tu
rk
ey
Po
la
nd
In
do
Cz
ec
h
Th
ai
la
nd
Re
pu
bl
ic
Ar
ge
nt
in
So
a
ut
h
Af
ric
a
0
Ch
in
a
H
un
ga
ry
25
20
Building Construction:
30.7%
Reserve
Requirement
Ratio
15
Transportation
Equipment:
11.4%
10
Lending Rate
Deposit Rate
19
99
20
00
20
01
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
97
98
19
19
19
96
Rest of
the
World
5000
Tousands of Tonnes
6000
4000
USA
Japan
3000
EU-28
2000
China
1000
0
2006
2007
2008
2009
2010
2011
2012
2013
2014
450
400
400
350
350
300
300
250
250
200
200
150
150
100
100
50
50
20
16
20
1
20
13
20
14
20
1
20
1
20
10
1
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
0
20
0
450