Fitch Ratings Doesn’t See Copper Heading the Same Way as Oil and Iron

Fitch Ratings has released a posting showing support for copper, saying it believes the commodity will avoid the same fate as iron ore and oil. Both of those commodities have been buffeted in recent months.

According to Bloomberg:

While Chinese growth is moderating, monthly copper imports are not showing any “material slowdown,” Fitch said in a posting. Delays developing new copper mines also mean that the market surplus is likely to be less than previously expected.

In a posting, Fitch reported:

Copper is unlikely to see the same extended decline as oil and iron ore. Previous market forecasts of a physical market surplus of several hundred thousand tons in 2015 now look excessive.

Click here for the full article.