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Copper Rises as Supply May Trail Demand on Output Constraints
Feb. 10, 2011 12:41PM PST
Base Metals Investing Bloomerg reports that copper rose for the first time this week on renewed concern that the world’s mining companies will struggle to boost output fast enough to keep pace with rising demand in emerging markets.
Bloomerg reports that copper rose for the first time this week on renewed concern that the world’s mining companies will struggle to boost output fast enough to keep pace with rising demand in emerging markets.
The market news is quoted as saying:
The fundamentals for the metal used in wires and plumbing remain “very positive” because of the production shortfall, Alan Heap, a commodities analyst at Citigroup Inc., said yesterday. Freeport-McMoRan Copper & Gold Inc., the world’s largest publicly traded producer, said last week that the constrained supplies that drove prices to a record will persist for the “foreseeable future.”
