Copper market’s biggest whale fuels speculation of a major shift
The world’s single biggest buyer of copper, State Grid Corp. of China, has slowed its purchases of copper wire this year.
In an interview with Bloomberg TV, Evy Hambro, portfolio manager with BlackRock Inc.’s World Mining Fund, discusses the state of the red metal.
He says copper has the tightest fundamentals right now. It will be in surplus this year and well into next. Some mining projects have been cancelled and if they don’t come back to life in the near term, it will affect supply in 2015.
Hambro also discusses economic growth in China as well as commodities and investment in Africa.
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