Copper demand set to grow

China will account for half of the globe's requirement within 10 years

SANTIAGO, Chile - Freeport-McMoRan Copper & Gold Inc said it's confident Chinese copper demand will continue to rise even as the nation hikes interest rates to cool inflation.

"China has done a remarkably good job of managing the extraordinary growth that they have," Freeport Chief Executive Officer Richard Adkerson said on Tuesday in an interview in Santiago, Chile. "In the long run we are very confident about the outlook for copper demand in China."