Mon, 12 Dec 2016 12:11:48 +0000 By SIMON MWANZA DEMAND for copper in 2017 will increase by 1.8 percent and this is good news for Zambia and other countries whose economies are dependent on the copper mining industry, says the International Copper Study Group (ICSG) Copper contributes 10 percent to Zambia’s GDP and accounts for 60 percent of the country’s total exports. ICSG, in its latest report, is of the view that a higher demand of the red metal will create an upturn in the market and increase prices, as predicted by the World Bank. As on December 9 copper official price on the London Metal Exchange (LME) stood at $5,824.00 a tonne. Cavmont Bank Zambia daily market reported that copper narrowly missed the US$6,000 a tonne mark two days ago and on Thursday posted a $5,769.50 ceiling on the LME after the price dropped by $152.50 to a tonne. The official target for copper […]
