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75% Copper Tube/Pipe Producers Bearish toward Copper Prices
Nov 23, 2015 14:22About 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
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.
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