The copper price on the spot market currently costs $ 9,439.50 per tonne on the London Metal Exchange (LME). For the futures contract with delivery date in three months, the copper price is $ 9,440.00. After the copper price beginning in February 2011 was twice climbed over the mark of $ 10,000, it has been a pullback.
buyers in the euro zone of the metal industry will benefit currently also by the rising euro exchange rate against the dollar. Thus, the European single currency climbed from 1.29 to 1.38 dollars between the 10th January 2011 and 24 February 2011. The copper price per ton on the spot market is currently at € 6865.09.
analysts believe that the copper price was currently indirectly pressed by the troubles in Northern Africa and the Middle East down. In particular, rising oil prices and the associated rise in inflation hamper global economic growth. The declining demand for industrial metals has also a pullback in copper prices led .
copper forecast 2011
A weekly survey by Bloomberg shows that most analysts (66.67 percent) come from a falling copper prices in the upcoming trading week.
the medium-to long-term, however, expect economists and financial experts to amortization are rising copper prices. The economic growth of the two largest copper consumer, China and the United States remains intact. It is expected for China with an increase in this year's gross domestic product by eight percent for the United States in the order of +3.5 percent.
The economy is currently stable enough to cushion the rising oil price, "said U.S. Treasury Secretary Timothy Geithner. In addition, central banks would have a wealth of experience, how they best cope with the increase in oil prices.
0 comments:
Post a Comment