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Copper trade most bullish in eight months on China

Posted on 08 November 2013

Copper analysts are the most bullish in eight months, joining hedge funds betting prices will gain on stronger demand from China, the biggest buyer. Eighteen analysts surveyed by Bloomberg News expect prices to rise next week, seven are bearish and seven neutral, the largest proportion of bulls since March 8.
Money managers and other speculators held a net-long position of 10,297 contracts on Oct. 29 after betting on lower prices as recently as September, the latest U.S. Commodity Futures Trading Commission data show. They were bearish from February to August………………………………………..Full Article: Source


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