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Home / Metal News / 75% Copper Tube/Pipe Producers Bearish toward Copper Prices

75% Copper Tube/Pipe Producers Bearish toward Copper Prices

Nov 23, 2015 14:22

Source:SMM

About 75% copper tube/pipe producers are bearish toward copper prices, citing strong US dollar and weakness in China, according to an SMM survey of 20 domestic copper tube/pipe producers.

SHANGHAI, Nov. 23 (SMM) - About 75% copper tube/pipe producers are bearish toward copper prices, citing strong US dollar and weakness in China, according to an SMM survey of 20 domestic copper tube/pipe producers.

The US dollar remains strong especially after a big recovery in US job market. Major economic indicators from China, however, stayed sluggish, meaning a continuous slowdown in China. In the meanwhile, China’s copper output hit an all-time high in October, but demand barely improved.

10% see copper prices remain range-bound. Any further declines in copper prices will be limited in the near term now that prices have posted great drops recently. Year-end stockpiling will also underpin copper prices.

There are 15% having no idea of copper price trends.

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Chinese copper tube/pipe producers

copper prices

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