| Short-term copper outlook bearish |
| Kedia Commodities / Mumbai October 31, 2006 |
| Copper futures at last broke their silence yesterday after the LME stock turned positive. They had stagnated in the range of Rs 345-358 per kg, and traders had shifted to other metals like zinc, aluminum and precious metals. If we see the import pattern and charts for consumption of copper globally, China imported over a third less copper in September this year than in the same month last year. A weaker US economy also affected sentiment. Seasonal trends for copper call for higher prices going into the fourth quarter as industrial demand for the |
