Southern Copper (SCCO.N) CEO Oscar Gonzalez said on Thursday he expects the price per pound of copper will hover around $4 in 2011, slightly off the record high prices it tracked early in the year. Gonzalez said he did not foresee a sharp fluctuation in Chinese demand for the metal despite higher interest rates in the world's second largest economy. "We believe copper prices will remain high this year (2011) and for 2012 we see a range of between $3 and $4 per pound," he told journalists.
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