A spokesperson for Xstrata expressed the company's expectation of improved copper demand from China in the imminent future at a Latin American investment conference in Sydney on 22nd May. The company expects to see a seasonal uptick in H2 2012 and said that the poor demand in Q1 was in line with its prior expectations. Xstrata intends to invest US$7B in the development of copper deposits over the next three years, increasing its copper output by approximately 60%. This bold move comes at a time when some of the company's rivals, including BHP Billiton and Rio Tinto, are reconsidering their expansion plans over fears of unstable copper demand in the current economic climate.

It has suffered a savage de-rating in the past couple of months, going from stock market darling to pariah. The Datastream UK mining index has fallen 30 per cent since the start of July and over the past couple of weeks the selling has accelerated. Halfway through September and the mining sector has already witnessed its sharpest monthly decline since 1997, according to Cazenove

Mr Albanese said there had been a marked reduction in Chinese commodity demand from the overheated levels of 2007 and added that the "vast majority of Chinese aluminium producers are now making operating losses."

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U.K. stocks climbed, extending a two-month high, as banks and commodity producers rallied. Kazakhmys jumped 5.8 percent to 540.5 pence. Separately, copper futures advanced...

SINGAPORE -(Dow Jones)- Copper mine supply could struggle to match forecast demand growth in the period to 2013, Macquarie Bank said in a report dated Tuesday. The bank said copper demand was expected to be 4 million metric tons higher in 2013 than 2009, implying that a significant number of new mine projects will need to come onstream to balance the market.