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Five years of low copper prices have decimated the project pipeline but Latin America's importance remains clear: half of the large-scale projects due for startup in the next four years are in the region. Though prices have risen in the last six months and optimism is high, the biggest producers remain focused on productivity. While the slim pipeline supports the idea of market deficits in the coming years, Chinese demand growth must stay strong if copper prices are to reach levels that would stimulate a wider return to investment.
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