Copper Extends Drop on Concern Economic Recovery May Be Delayed

BEIJING, July 9 -- Excessive capital fluidity is expected to boost a new round of bull run for China's commodities market in the second half year and copper will become a hot product for investment, some analysts said at a forum on derivatives investments Tuesday.
&nbsp;&nbsp;&nbsp; China's commodities market rallied far beyond the expectation in the first half year, which has triggered worries over whether such buoyancy can persist in the rest of the year.
&nbsp;&nbsp;&nbsp; Li Peiyin, a senior analyst with Essence Securities predicted that the likely prominent growth of China's economy in the fourth quarter will serve as a solid foundation to prop up copper prices.
&nbsp;&nbsp;&nbsp; Copper prices in China may fluctuate in the range of 38,000-42,000 yuan/ton in the third quarter and is likely to rise to 42,000-48,000 yuan/ton in the following quarter along with a possible strong rebound of world economy as well as an increase of infrastructure construction in China, Li added.
&nbsp;&nbsp;&nbsp; (Source: chinamining.org) 
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