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End of year: analysis of the world copper price

6 January 2011
End of year: analysis of the world copper price

In

the last working days of the year

the price of the red metal on the exchanges

the world has increased. So on the LME during this period

copper was trading at $

$9391/t (with

instant delivery) and sold at

price $9332 for delivery in March — April

2011.

Stock

brokers «New York Mercantile Exchange» in the last

the trading day saw a price of $9532,7 for

ton, and Asian markets sold copper

at a cost of $10 thousand and above: Shanghai

exchange (ShFE) sold it for $10294 per ton,

and Japanese

JX Nippon Mining & Metals (five days earlier)

raised the official cost of the red

metal to 830 thousand yen.

On

today the world’s reserves of copper in warehouses

exchanges are at the lowest level

at the end of the year. So in the last

working day in the controlled warehouses

The London Metal Exchange reserves of the red metal

amounted to slightly more than 370 thousand tons. COMEX

(New York stock exchange) ended the trade

with the amount of 64 thousand tonnes, and in warehouses,

controlled by «Shanghai Futures Exchange», there

about 120 thousand tons.

«Macquarie Bank Ltd», given by the Agency

«Bloomberg», the copper prices in the new year

probably will overcome a mark in $11 thousand

per ton, since the projected

a deficiency of this metal can be

the order of 550000 tons. Experts of the company not

eliminate the reduction in stocks of copper on

exchange warehouses, to unacceptably low

level, which in 2011 may be

less than twenty reserve

consumption of metal (in the world).

In support of these predictions,

«Bloomberg» cites the opinion of analysts

company «Yong'an Futures Co.» (China), which

confirm the fears of market operators

of failing global suppliers

copper to meet rapidly growing

the needs of customers in the coming

year.

5 January 2011
7 January 2011