January 20, 2017 / 5:03 PM / a year ago

KGHM's CEO expects 2017 copper price to slightly exceed $5,000/t

GLOGOW, Poland, Jan 20 (Reuters) - Poland’s KGHM, one of the world’s biggest copper producers, expects the average copper price to slightly exceed $5,000 per tonne in 2017, Chief Executive Officer Radoslaw Domagalski-Labedzki said on Friday.

“We can be a little more optimistic on the average copper price, which could slightly exceed $5,000 per tonne...I would be more concerned about the molybdenum prices,” Domagalski-Labedzki told reporters.

Benchmark copper on the London Metal Exchange was up 0.15 percent at $5,749 a tonne at 1655 GMT.

In December the CEO said he expected the price to rise in the mid and long term and to boost the prospects for KGHM’s overseas assets.

Reporting by Wojciech Zurawski; Writing by Agnieszka Barteczko; editing by Susan Thomas

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