July 2012 | Base Metals
Copper remains in danger of falling to $7000/tonne although Q3 upside expected: Copper - Market Analysis
We assume that market sentiment and prices will be at their lowest in the depths of the summer lull – and do not preclude a washout to $7,000/tonne in the process. Although, we maintain our view that copper will be trading at higher levels by the end of the quarter and higher still by the end of the year.
Copper miners getting their act together...
The latest quarterly corporate reporting season has so far produced few major production disappointments, which is unusual. BHP Billiton and Vale both reported 11% increases in copper production in Q2, while Anglo American achieved a 7% rise and Rio Tinto posted a 5% increase, though...
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