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Ardent Listener
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USA
4841 Posts |
 Posted - 04/03/2007 : 09:40:40
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Copper
Posted: Tue, 03 Apr 2007
[miningmx.com] -- THE price of copper broke through $7,000/tonne on speculation that demand was continuing in China unabated and supporting the view of Dresdner Kleinwort that the metal would rise to $7,600/tonne by year-end.
This is still more than $400/tonne below its high in May 2006 but significant evidence that Chinese growth remained intact.
"The market thinks it is facing the possibility of an even bigger deficit this year than last," Gary Mead, senior commodities analyst at consultancy Virtual Metals, told Reuters.
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For good times to come or bad times to come, now is the time to save your copper or nickel coins.
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Copper broke through $7,000/Tonne
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