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Copper prices set a new record

21 January 2011
Copper prices set a new record

At

to Bloomberg, London Metal

Exchange the price of the red metal broke

another record: its price (deferred

delivery in 90 days) increased by

0,8%, having exceeded, thus, the old record

value of more than $ 20

per ton, and amounted to the sum of 9774,75 $. And already

19th of January was fixed figure 9778

$ ./T.

Similar

development scenarios of the copper market confirm

the analysts on an unprecedented rise

the popularity of this non-ferrous metal.

And once again give reason to think

on equity expectations

industry on the growth of prices for it

in the current year to the level of $ 10 000 per tonne.

We will remind, what exactly about those numbers

mentioned in an interview with the head of the Council

of Directors of the Indian copper company

«Hindustan Copper Limited», Ahmed Shakil. In his

opinion, one of the important factors such

development — significant

the increase in demand for copper by the Chinese

companies with a parallel constraint

supplies. After all, according to conclusions of experts,

consumption of the red metal in China in

2011 should grow by 8% in comparison

since last year, and as a result

the amount of 7.3 million tons. While

the rate of growth of mining of copper change (in

the results of the last months) is much

slower.

Not

added optimism to the consumers of red

metal analysts at JP Morgan

Securities Ltd: in their opinion, a deficiency of this

substances on the world market in the current

year is not less than 500−600 thousand tons

(even the most conservative forecasts).

20 January 2011
24 January 2011