Sunday, April 10, 2011
Bullish on copper prices
"Copper Survey 2011" released by research house GFSM is described by Mineweb.com as going into "immense detail of the copper industry all across the supply and demand chains." They echo other analyses that the copper market is in a supply deficit for the year which could lead to near record prices of $11,000/tonne. Rio Tinto predicts a higher deficit of 500,000 tonnes this year, with the supply deficit lasting into 2013. [photo credit, FCX]
However, GFSM and others warn about a pullback in prices in the near term, due to possible slowdown in growth in China, in the BRIC group, drawdown of stockpiles, or other factors.
I am not trying to serve as an investment advisor with these posts, but since Arizona produces roughly two-thirds of the nation's copper supply, developments in the red metal are important here.
at 8:17 PM