It is time to buy copper: what the analysts are saying
Most analysts consider copper as fundamental the tightest metal offers and demand of all.
In a Bloomberg survey of 14 metals analysts and traders published today, ten - or 71pc - said that the price of copper has more next week. Three predicted at low prices and a forecast little change.
Gerard Lyons, Chief Economist and head of the international group of research, Standard Chartered
"Copper demand is robust and mine supply has difficulty tracking after years of under-investment." The relative positions of mine the planet, the Chile and largest consumer of the planet, China's largest supplier to highlight a big problem: Chile should add 56 thousand tons (kt) mine provide this year, so that in our forecast reasonably prudent, China will add 830kt from the demand of the equation. ?
Jochen Hitzfeld, UniCredit:
"Existing mines suffer fall ore content." The content of the ore mine Escondida [at Chile], the largest worldwide, for example, halved since 1996. ?
He also said:
"Among industrial metals, copper copper is our favorite," adding that the deficit forecast for 2011 and 2012 supply will reduce stocks to "near historic lows.
Daniel Major, RBS:
"Like it or hate, the launch of potential for a couple of funds exchange traded physically backed up copper (FNB) set the cat among the pigeons in what is already a fundamentally tight copper market." While it is probably of when not so, copper assaults marker per tonne of $10,000, where copper uber bulls we differ is in the calendar, where we expect to see the marker exceeded $10,000 tonne of soon, but rather only step until after 2012. But there is a risk that a relatively modest uptake of new ETFs could advance this target price.