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53% of copper smelters bullish to copper price

Posted on 22 August 2013

A survey of 24 Chinese copper smelters undertaken by Shanghai Metals Market (SMM) reveals that 53% of the surveyed smelters expect copper price on London Metals Exchange (LME) to rise to USD 7,400-7,500/mt. The expectation is based on positive reports lately and the current liquidity conditions which are more relaxed than June’s levels.
Moreover, Xu Shaoshi, official from the National Development & Reform Commission, confirmed the strong potential investment demand in China, and stated that the government will adopt multiple measures to give consumption and investment full play in the national economy. As such, many still believed pro-growth measures may be introduced despite the absence of massive stimulus………………………………………..Full Article: Source


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