10.02.2014 - China seen as cushion for softer copper prices
Prices of copper - the bedrock industrial metal and a benchmark for gauging the strength of the global economy - are likely to soften further in the coming year as production growth is expected to exceed that of consumption. However, any weakness may be cushioned by steady demand on the mainland. The price of the benchmark three-month forward contract on the London Metal Exchange may average US$7,078 a tonne this year, 3.7 per cent lower than last year, according to the average estimate of 28 analysts polled by Bloomberg. Prices have fallen 16.7 per cent in the previous two years amid global economic weakness..................................Full Article: Source