Copper demand to outpace supply on China growth

Copper demand will continue to outpace supply in the first half of 2013, as China’s rebound drives growth in world consumption, Bloomberg reported. Barclays (BCS.NYSE, BARC.LON) predicted a 316,000 metric ton copper shortage from January through June of next year, before supply increases above demand in the second half. Shortages of the metal started in 2010, according to the International Copper Study Group. The price of copper may average US$8,300 a ton April through June, an increase of 6.9% compared to the current price and a yearly high, according to data compiled by Bloomberg. China, which consumes 41% of global copper resources, is returning from a seven-quarter long period of declining growth. The Chinese government approved US$161 billion in infrastructure projects in September, adding to the indicators that the nation’s future demand for the metal will grow.