| From Mineweb.com: The latest quarterly Commodity Review from Société Générale describes how the copper market is characterised by "limited visible stock coverage, little in the way of idled overcapacity overhanging the market, strong Chinese import demand, and an expectation of limited supply going forward" that will take the market into a deficit that will start in 2010 and deepen thereafter.
Noting how China represents the key fundamental factor driving the base metals sector, the bank forecasts that China's share of global base metals consumption is expected to approach 40% in 2010 - despite a downgrade in the bank's forecast for Chinese growth in 2010 to 8%.....................Full Article: Source
|