Copper drifts on limited China buying, BOJ stimulus supports
PTI: Singapore, Jan 23 2013, 15:46 IST
reported its quarterly iron ore output rose 3 percent, slightly below analysts' estimates, as it races to keep pace with demand from Chinese steelmakers.
Supply from the world's biggest copper mine, Chile's Escondida, is expected to rise 20 percent next year on improving ore grades, it said.
Slowing Chinese growth and a surge of new supply will limit gains for benchmark industrial metal copper this year, with further price slippage seen in 2014 as the market surplus deepens, a Reuters poll showed this week.
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