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Copper Overcapacity and the Adjustment Process
Author(s) -
MIKESELL RAYMOND F.
Publication year - 1988
Publication title -
natural resources forum
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.646
H-Index - 49
eISSN - 1477-8947
pISSN - 0165-0203
DOI - 10.1111/j.1477-8947.1988.tb00798.x
Subject(s) - copper , consumption (sociology) , balance (ability) , natural resource economics , economics , supply side , business , copper mining , commerce , metallurgy , medicine , social science , materials science , sociology , physical medicine and rehabilitation
This article analyses overcapacity in the world copper industry during the 1980s and reviews projections of mine capacity to 1990 and 1996 by the research staffs of the World Bank, the International Wrought Copper Council, and the Intergovernmental Council of Copper Exporting Countries. The process of restoring demand‐supply balance in the copper industry is analysed under alternative assumptions for rates of growth in world consumption and certain conclusions are reached on the implications for copper prices during the 1990s.