LMEWEEK-Cable maker Prysmian says copper prices unsustainable

LONDON Oct 14 （Reuters） - Italy-based cable maker Prysmian （PRY.MI: Quote） said on Thursday current copper prices are not sustainable and will damage demand by prompting substitution with cheaper metals.

"We expect that next year demand will be more than this year, but nothing drastic, 2-3 percent （increase） globally," said Prysmian chief procurement officer Tayfun Anik.

However, Anik said the increase in demand reflects a pick-up in end-user consumption rather than restocking.

"I suspect with the current copper price nobody carries excess stock, a small increase in demand will be real demand not restocking."

Benchmark copper CMCU3 on the London Metal Exchange is up about 40 percent since June. Earlier on Thursday it hit $8,490 a tonne, it highest since July 2008.