Copper has risen during 11 of the last 12 trading sessions, adding nearly 11% in two weeks. While other industrial metals and steelmaking raw materials have jumped in value this year, the bellwether metal has advanced a more modest 8% this year.

The copper price hit six year lows in January following a 26% decline in 2015, the fourth year in a row of price erosion.

While the price of copper appears to have found a floor above $2.00 a pound a new note by BMI Research, a Fitch company, says that any gains going into 2017 would be modest.

Copper will remain an underperformer among base metals, as the market remains comparatively well-supplied and warehouse and exchange stocks despite recent declines remain relatively high, according to the report.

BMI expects copper prices to break out of an increasingly narrow trading range by 2017, supported by additional Chinese fiscal stimulus in the form of public construction sector support and the acceleration of public-private partnership infrastructure projects.

An investment boom in new capacity this decade has seen several large projects come on stream this year, but BMI forecasts global refined copper market balance to tighten substantially in 2017, to a surplus of 107,000 compared to an estimated surplus of 294,000 this year.

BMI forecasts copper prices to average only slightly higher next year at $4,900 per tonne in 2017, compared to $4,730 so far this year.

Kyaw Win was speaking at an economic forum sponsored by the Japan External Trade Organization and others in Tokyo on Tuesday. About 350 attendees included those from Japanese trading houses and financial institutions, as well as Myanmar companies.

The event came after the US government completely lifted its economic sanctions against Myanmar last month.

The finance minister said business opportunities exist in Myanmar in variety of fields, including infrastructure and finance. He added that all companies and investors have a fair opportunity there.

He encouraged vigorous participation by Japanese investors, saying that Myanmar's business environment has greatly improved with the introduction of a new law that eases restrictions on foreign firms.

Before the lifting of the US sanctions, Japanese companies were reluctant to do business with Myanmar firms and individuals whose transactions with the United States were banned.

But it is now hoped that trade and investment between Japan and Myanmar will become active.

An official from a Myanmar company that was dropped from the US sanctions list expressed hope for business with Japanese firms that have technologies and experience in infrastructure-related fields.

Sources say the 2 companies are in the final stage of talks to launch a joint venture in India to produce lithium-ion batteries for hybrid vehicles.

Suzuki is the first Japanese automaker to start business in India, which has become its main overseas market.

Its local unit, Maruti Suzuki, is the market leader, with a share of over 40 percent in terms of sales units.

The plan to bolster hybrid car sales is in response to tighter regulations to address worsening air pollution in major cities.

A court has ordered a ban on diesel cars that are more than 10 years old in the capital, New Delhi.

Analysts say Suzuki aims to keep its leading position by promoting fuel-efficient and environmentally friendly hybrid models.

The producer group assumes that the price for the OPEC Reference Basket (ORB), the blend benchmark used by the cartel’s members, will be around $40 this year. The price recovery will continue with $5 increments every year, reaching over $60 a barrel up to 2021.

The global demand for crude in the medium-term is expected to increase up to 99.2 million barrels a day (mbpd) by 2021. According to long-term projections, demand will rise by 16.4 percent in 2015-2040 to reach 109.4 mbpd.

“Global oil demand growth comes mainly from the road transportation sector, petrochemicals and aviation,” the report says.

Total global primary energy demand is expected to advance by 40 percent in 25 years – reaching more than 382 barrels of oil equivalent (boe) – with developing countries to provide a major part of the boost.

OPEC experts say the crude market has continued to readjust to the changing industry landscape since January, when prices fell to $27 per barrel. Since then, they have rebounded to the current $45-$50.

“During 2016, the market has shown signs that fundamentals are gradually rebalancing. However, despite non-OPEC supply contracting considerably, global demand remaining robust and the pace of the stock build decelerating, it is clear that instability and volatility remain,” the group’s report says.