Copper May Extend Rally to Record on China Demand

Bloomberg reports that copper may rally to a record $12,000 a metric ton in the first quarter with strong demand from China.

Maike’s Research Department Head, Ren Gang says,

If Chinese imports don’t pick up in the second half, there will certainly be a serious shortage.

The market news is quoted as saying,

Higher demand from China may extend a 49 percent rally in London copper prices amid expectations for global consumption to exceed supply. Imports of copper and products by China rebounded for the first time in three months in June after stockpiles tumbled 38 percent from this year’s high. Increased government investment on infrastructure projects and affordable housing may also boost demand.

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