using a demand and a supply diagram,analyse the effect of an increase in the cost of producing copper on the market for copper
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Explanation:
COMEX copper futures made headlines in early January by falling below $2/lb for the first time since 2009. The metal recently traded as much as 57% off its peak levels from 2011. This paper explores why copper prices have collapsed, and what might be in store for the metal in 2016 and beyond.
Generally, when people discuss copper, most of the focus is on the demand side. Indeed, the slowdown in China, a major consumer of the metal, is a key reason why copper is under pressure. But, one must not overlook the supply side. Copper-mining supply doubled between 1994 and 2014, and probably held steady or continued to grow in 2015. What's even more notable is that copper supplies might keep growing despite the collapse in prices, as they did in 2008-2010 when production rose about 3% despite the price plunge during the financial crisis