The overall annual growth of copper demand until 1995 will be 1.3%, according to a recently released World Bank report, The World Copper Industry: Its Changing Structure and Future Prospects (1984-1995).
Among the industrialized nations of Canada, France, Italy, Japan, the United States, the United Kingdom and West Germany, consumption levels throughout the time period will not be higher than at present except in Japan. The World Bank is forecasting world copper demand by these seven nations in 1990 will be 5.4 million tonnes, and in 1995 will be 5.7 million tonnes. (In 1984 the total was 5.5 million tonnes.)
Demand for copper in the developing countries will nearly double, to 1.7 million tonnes, for the same time period.
Copper prices in 1990 are forecast to be 63.4 cents per lb, and in 1995 will be 74.1 cents per lb, with copper supply available to meet the predicted demand based on these prices. (The 1984 copper price was 62.5 cents .)
The seven industrialized nations mentioned in the report currently account for 70% of world demand (not including nations behind the Iron Curtain).
The San Francisco-based consulting firm of Hugh Douglas & Company Ltd. comments on the World Bank report in one of its publications.
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