LMEWEEK-Freeport's Atlantic Copper aims record output in 2015
LONDON Oct 13 (Reuters) - Atlantic Copper, a subsidiary of Freeport McMoRan Inc in Spain, may set a new record this year by producing 284,000 to 285,000 tonnes of cathode, a top company official said on Tuesday.
Javier Targhetta, president of Atlantic Copper and senior vice president for marketing and sales at Freeport, told Reuters that higher inventories of anodes would help it to maintain copper output despite a recent planned shutdown for maintenance.
The smelter based in Huelva, Spain, produced a record 284,000 tonnes last year.
Targhetta said in an interview that its 2016 term premiums for copper were expected to fall slightly from $110 per tonne for 2015 due to a bearish sentiment. He said, however, that the global copper market was likely to be balanced next year and could have a deficit in 2017. (Reporting by Atul Prakash; editing by Jason Neely)
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