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Evaluation of world resources of copper raw material

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Category: Economy and management

Last Updated on 13 November 2014

Published on 13 November 2014

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Authors:

А.M. Melnykov, Cand. Sci. (Tech.), Associate Professor, Associate Professor, State Higher Educational Institution “National Mining University”, Senior Lecturer of the Department of Economics of Enterprises, Dnipropetrovsk, Ukrainе

Т.V. Herasymenko, Cand. Sci. (Geol.), Associate Professor, State Higher Educational Institution “National Mining University”, Senior Lecturer of the Department of Economics of Enterprises, Dnipropetrovsk, Ukrainе

Abstract:

Purpose. To determine the position and identify the competitive advantage of countries with the largest proven reserves of copper on the world market; to identify the main features of the global copper market at the end of XX – beginning of XXI century; to analise the trends of the global copper market.

Methodology. The methods of statistical analysis, elements of the system and integrated approaches, marketing research, methods of expert evaluations were used for substantiation of the research results.

Findings. The basic features of the global copper market have been identified; the key ones are: high concentration of copper in a relatively small number of states; limited access to the copper market participants, forming its proposal; preservation of a stable structure of consumption of the countries in the last twelve years; high dependence on the global copper supply market; specific place of China in the global copper market.

Originality. We have determined the trends in the global copper market in the XXI century, reflecting a steady supply of copper, the world’s leading producers of copper concentrate and rising demand for copper from major Asian countries due to the general decline of consumption in all countries of the world caused by the global financial crisis.

Stages of development of the world copper market were emphasized.Based on the trends and factors considered the solutions for mining companies’ development in the medium term prospect has been suggested.

Practical value. It is possible to use the research results and scientific advices at mining enterprises for development new approaches to the strategic decisions on improvement of their competitiveness.

References:

1. Радионова И.А. Мировая промышленность: структурные сдвиги и тенденции развития (вторая половина XX–XXI вв.)/ Радионова И.А. – М.:ГОУ ВПО МГУЛ,2011. – 227с.

Radionova, I.A. (2011), Mirovaya promyshlennost: strukturnye sdvigi i tendentsyi razvitiya (XX–XXI st.) [World industry: Structural Changes And Development Trends (Second Half XX–XXI Centuries)], MGUL, Moscow, Russia.

2. Dorsch Gary, The Psychology of the Copper Market. Available athttp://www.financialsense.com /contributors/gary-dorsch/the-psychology-of-the-copper-market.

3. London Metal Exchange. Available at: http://www.lme.com/en-gb/metals/non-ferrous/copper/.

4. Saefong Myra P.,“Copper rallies on strong emerging-market demand”. Available at: http://www.marketwatch.com/story/dr-copper-speaks-volumes-about-emerging-markets-2010-10-08?pagenumber=2.

5. Wong Fayen, “World copper demand growth to slow in 2011”. Available at: http://www.reuters.com/ article/ 2011/ 05/29/us-copper-outlook-idUSTRE74S16X20110529.

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