The price of copper begins to fall
As can be seen from the reports of the traders, the price of copper for the supply of three months at the beginning of this week on the London Metal Exchange fell by 0.7% — share price in recent trading has reached the mark of 7,347 thousand dollars per ton… The same analysts forecasts about the prospects for market development Cuprum unambiguous position has not yet been formed.
Earlier it was reported that experts «Sucden Financial» take the view that a significant increase in copper prices in the near future there is no reason. At this rate, affected both mitigation control over credit in China and growing red metal on the world market, as well as reduce the likelihood of certain financial liquidity on trading floors around the world.
Among other things, analysts have expressed the view that the demand for copper may be more sensitive to the pace of economic growth in some industrialized countries. However, according to experts, the average annual price of copper this year, not to exceed 7.1 thousand. Dollars per ton.
As with projections of copper prospects, as well as with the results of the first months of 2013, the market operators, the common denominator is difficult to draw. Recall that the Russian enterprises in the first half of this year reduced the export of primary refined copper in the forms and in the form of a rod by 12% (up to 330.6 thousand. Tons) compared to the same period last year. With the proceeds from these transactions decreased by 14% to 2.478 billion. Dollars. Meanwhile, it was reported earlier that the mining holding company «Glencore Xstrata», one of the largest market participants, in the second quarter of this year increased copper production by 22% to 351.6 ths. Tons. Slightly lagged behind competitors and Brazilian mining corporation «Vale», which over the same period has increased the volume of the red metal tapping at 2% (up to 91 ths. Tons).