A full recovery to copper demand will not be evident until at least the fourth quarter of 2002, with brisk growth saved for 2003 and beyond, according to James Steel, assistant vice president and director of New York research at Refco Inc. "The world economy needs a rebound in private fixed investment and trade flows outside of the U.S.," Steel said. "There have been some signs of Japanese recovery, while the European recovery that was much hyped at the start of the year has not been as fast as expected, and still looks sluggish until the second half of 2002."
NSTL
