Bloomberg reported that Natixis Commodity Markets Ltd. projects that due to Chinese consumption and supply constraints, copper prices will average $8,250 per metric ton this year.
As quoted in the market news:
While the estimate is below its May forecast of $8,800, it’s above the metal’s average of about $8,018 so far in 2012.
“Among the base metals, copper continues to exhibit the strongest fundamentals,” Natixis said. “Despite the weak global economy, restocking in China is driving a strong increase in apparent demand. If underlying economic conditions begin to improve, a significant rally in copper prices remains a distinct possibility.”
Quaterra Resources Inc. (TSXV:QTA,OTCMKTS:QTRRF,FWB:QR2) is advancing its 100%-owned flagship Yerington project in Nevada’s Yerington Copper District, one of the world’s most attractive mining jurisdictions.
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