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Friday, February 11, 2011

copper price trend forecast 2011

copper price trend forecast 2011 : Gold for February contract was recently at lower levels not seen in a few months. The outlook for gold bullion and safe haven assets is still optimistic today and final results support this thinking.

Generally negative interest rate environment will continue to enforce a safe haven appeal throughout 2011. Gold for February contract was trending negatively at the halfway point of the trading session today, but a rally.

Copper 2011 Price Outlook
According to Goldman Sachs, investors can expect 2011 to be another year of rapid price gains for the red metal. On Monday, the investment powerhouse released their projections for the copper market in 2011. They expect accelerating demand and shrinking stockpiles to buoy the metal above $11,000 per tonne. “We maintain our 12-month ahead copper price forecast of $11,000/mt and believe that prices could spike substantially above these levels, most likely in late 2011,” Goldman added.Read More...

Price forecast for 2011.
The price of the copper futures (HG) is currently staying close to the historic high ($4.26), which is a stimulus to perform constant monitoring of the situation. The November up-bar with wide spread and high volume (max volume over the last 7 years) suggests that the big-scale players start taking profit. Defining the further trend will become possible as soon as there are mere signs of one of the variants. Read More...

China smelters, BHP settle 2011 copper prices
SHANGHAI (MarketWatch) -- Chinese smelters have settled 2011 term copper treatment and refining charges with global miner BHP Billiton Ltd. /quotes/comstock/13*!bhp/quotes/nls/bhp (BHP 93.66, +0.27, +0.29%) at $77.0 a metric ton and 7.70 cents a pound, a person with direct knowledge of the situation said Friday. Read More...

Record copper prices fail to register in ETFs
Copper's surge came on the back of US employment figures released last week that showed manufacturing created 49,000 jobs in January. Copper is widely used in the industry and prices for the metal are highly correlated to the business cycle as well as broad economic conditions.Read More...

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