Chinese purchasing restores copper prices
Copper, the flagship base metal posing the ability to forecast the state of the economy in general and the metal markets in particular. But none of the other base metals have followed copper’s recent rally, and industry experts do not expect that it will have very long legs.
Orest Wowkodaw, an analyst at Canaccord Adams, stated:
We recognize there’s a lot of momentum on the upside, and we’re just trying to balance the inflation hedge and the stockpiling versus what’s really happening on a fundamental basis, which doesn’t look very good at the moment.
For full story, click here
Comment |
|
Tweet |
|
All content Copright 2011 Dig Media Inc. Disclaimer
Reproduction Request
Sun, Apr 5, 2009
Post by Mike Rodger, Copper Reporter