Will the supply response be sufficient to lift prices?

A number of mining companies have recently announced plans to cut output or close mines and smelters in response to low prices. These latest announcements come on top of earlier cost-cutting exercises, including lower capital expenditure. In this Metals & Mining Watch, we assess the outlook for supply for three industrial commodities - copper, aluminium and iron ore. Although supply is being curbed, the price implications vary given different starting points in terms of stocks, demand and costs of production.