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Glencore mine closings may give copper market a 2003-style supply shock

from The Globe and Mail

As copper miners start to slash spending and shutter mines because of the plunge in the price of the metal, experts who analyze the market in the base metal are suddenly getting a little more cheery. They are seeing the potential for a rerun of 2003 when Chile's Codelco, the world's top copper producer stockpiled 200,000 tonnes of the metal that is used in everything from pipes to autos, providing the market with a supply shock that soon drove copper prices back up. more


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