Copper Gains to Record on Speculation Demand to Outpace Supp

[Finder]

http://www.bloomberg.com/news/2011-01-1 ... overy.html

“Speculation that the global economy will continue to recover and that demand will continue to outstrip supply has lifted prices up to a new record today,” John Meyer, an analyst at Fairfax IS in London, said in a report.

That $4.43 was finally broken!

Meanwhile the opinion of the bears:

“If anything, the risk is for a correction lower,” said Nic Brown, an analyst at Natixis Commodity Markets Ltd. in London. “With the gradual tightening of monetary conditions in China and other developing countries, we share the more cautious outlook indicated by developing-country equity markets and do not expect copper prices to push materially higher until or unless inflation begins to moderate.”

I like john Meyer.

I hate Nic Brown.

[dp2007]

At some point they will both be right no doubt. They'll both claim they made a great call.
The truth is all commodities fluctuate greatly in price. At some point copper prices will
level off or even back up a bit. It has been a good ride for the precious metals. If the average person
is jumping on board to make a quick profit you can almost guarantee it is time for a price reversal--at least short term.

[Finder]

It will probably cool off a few days then set another all time high.

$4.50 is coming soon imo.

Provided no terribly bad news.

[Finder]

Copper May Rise as German Confidence Unexpectedly Gains, Stockpiles Shrink

http://www.bloomberg.com/news/2011-01-2 ... hrink.html

Copper stockpiles monitored by the Shanghai Futures Exchange fell for the first time in four weeks, according to figures released today.

Yesterday was a bit overdone, though the likelihood of profit-taking was always high after the run that had occurred,” said David Thurtell, an analyst at Citigroup Inc. in London. “The outlook is still very strong. All the forward indicators point to ongoing strong growth in China.”