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Copper likely to trade in broad range between $7,500 and $8,500: GFMS

Posted on 10 April 2013

Copper prices will struggle to make headway this year, weighed down by growing inventories due to a cautious view of demand in China, US economic uncertainty and Europe’s debt crisis, metals consultancy Thomson Reuters GFMS said.
In its annual Copper Survey, the consultancy expects prices to average $7,785 a tonne in 2013, down 2.1 percent from the 2012 average. Copper is likely to trade in a broad range between $7,500 and $8,500 this year, with risk weighted on the downside, and $6,500 could be a potential level of support should selling pressure intensify, the consultancy said………………………………………..Full Article: Source


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