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Copper Likely To Outperform Other Base Metals This Year -ANZ Strategist
May 4,2012 17:15CST
industry news
Source:SMM
Copper will likely be the strongest performer in the base metals complex this year, Nick Trevethan, senior commodities strategist at ANZ research, said Friday.

SINGAPORE, May 03, 2012 (Dow Jones) -- Copper will likely be the strongest performer in the base metals complex this year, Nick Trevethan, senior commodities strategist at ANZ research, said Friday.

Trevethan tipped London copper to reach $9,040 a metric ton by year-end.

Benchmark three-month copper was trading at $8,255/ton at 0336 GMT.

The recent stock buildup in China is mostly due a stock draw from London, reflecting a relocation of stocks rather than weakening Chinese demand, he said on the sidelines of the LME Asia Metals Seminar.

"We remain positive about the supply-demand dynamics of the copper market," he said.
 

copper; the strongest performer

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