| Today in metals news we have a very intersting story about the price of copper slowing then dropping in the second half of the year due to demand in China slowing. For full details please read on:
Copper continues to drop as Chinese demand slows |
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Copper eased as high stockpiles in Asia and lighter Chinese demand outweighed strike threats across the globe. Metal analysts say inventories in Asia are rising and Chinese demand is likely to fall further, after the world’s top copper consumer imported so much of the metal it is now oversupplied. Copper dropped for a fourth consecutive session in London after stockpiles rose and Japanese shipments of cable and wire fell, renewing concern that Asian demand may be slowing. Nickel and zinc declined. Inventories of copper monitored by the London Metal Exchange rose 1,200 metric ton to 119,025 tons, the bourse said Monday, then fell 75 tonnes to 118,950 tonnes, on Tuesday the exchange said in it’s daily report bringing this month’s gain to 7 percent. On Tuesday the Japanese Electric Wire and Cable Makers’ Association reported that Metal-wire and cable shipments in Japan, the world’s second-largest economy, fell 2.5 percent on year in May, according to preliminary data from “Demand is still fairly weak,” said David Thurtell, a London-based analyst at BNP Paribas. He forecast the metal will drop to around $6,500 a ton in the second half of 2007. In the cable directory web-site we have the daily price of copper in our metals page, click on the link below: |
http://www.thecabledirectory.com/newsind.htm?cate=Metals
