ASTANA, June 30 (Reuters) - Kazakhstan-based metals group Kazakhmys PLC (KAZ.L) expects copper prices to fall in the wake of an economic growth slowdown in China, the world’s biggest copper consumer, the company’s head said on Wednesday.
“China is not showing the growth rates that had been expected by investors. Consequently demand for metals and other types of commodities will start declining,” Eduard Ogai told an international mining congress.
Kazakhmys, one of the world’s 10 biggest copper producers, sees fair copper price at $5,500 per tonne, Ogai added. (Reporting by Raushan Nurshayeva; writing by Maria Kiselyova)