November 29, 2017 / 1:27 AM / a year ago

Antofagasta CEO sees global copper market balanced or in small deficit

FILE PHOTO - Ivan Arriagada, chief executive officer of Chilean miner Antofagasta Minerals Plc, attends an interview with Reuters in Santiago, Chile October 25, 2017. Picture taken October 25, 2017. REUTERS/Pablo Sanhueza

SHANGHAI (Reuters) - Antofagasta PLC (ANTO.L) sees the global copper market balanced or in a small deficit this year, with the situation continuing into 2018, its chief executive officer said on Wednesday.

Refined copper demand is growing at a “healthy rate” of 4 percent this year and new production “has largely already been absorbed in the market”, Ivan Arriagada said at the Asia Copper Conference in Shanghai.

Reporting by Tom Daly; Editing by Joseph Radford

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