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Copper Fundamentals To Weaken In 2nd Half 2010 - Barclays

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Copper Dominated By Speculators, Price To Collapse- Threlkeld

NEW YORK, Jun 03, 2010 (Dow Jones Commodities News via Comtex) -- The fundamentals of the copper market have been improving through 2010, but will weaken in the second half of the year leaving prices to average $6,000 a metric ton in the fourth quarter, the assistant vice president of commodities research at Barclays Capital said Thursday.
This is down from an average of $7,200/ton in the first half of the year, Nicholas Snowdon said told the Metal Bulletin copper conference in New York.
&quot;Despite the recent decline in copper prices, the fundamentals are on a general strengthening trend,&quot; he said. &quot;Demand growth has been at a double digit pace, while mine supply is underperforming. The global refined copper market was in an estimated 432,000-ton deficit in the first half of the year,&quot; he added.
But the demand-supply side fundamentals will soften in the second half, he told the conference.
&quot;This softening will happen as OECD restocking of copper tapers off, and fiscal and monetary policy weighs on Chinese demand,&quot; he said. &quot;However, 2011 and beyond will remain irrefutably bullish,&quot; Snowdon said. 
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China to Expand Home Appliance Replacement Scheme  

copper-fundamentals-to-weaken-in-2nd-half-2010---barclays

Copper Fundamentals To Weaken In 2nd Half 2010 - Barclays | SMM

Copper Fundamentals To Weaken In 2nd Half 2010 - Barclays

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