Copper Traders See Rally Ending as China Use Slows: Commodities

Bloomberg reported that copper analysts are anticipating a closer to the biggest weekly rally since 1986 on worries that demand will decrease in China due to Eurozone’s lingering debt crisis.

As quoted in the market news:

Demand in China declined 5 percent in the first seven months of this year, the International Copper Study Group said in an Oct. 21 report. Imports of refined metal climbed in September to the highest since May 2010 as lower prices in London prompted traders to place orders. Inbound shipments climbed 17 percent to 275,499 tons last month from 235,509 tons in August, the General Administration of Customs said Oct. 24.

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