on the commodities markets, copper prices for the first time the mark of 10,000 dollars per tonne have climbed. The copper price with delivery date in three months climbed to $ 10,050 during trading on the London Metal Exchange (LME). This , the copper price reached a record level. Never before has the metal industry was so expensive.
Before the outbreak of the financial crisis in the copper price had increased to 9,000 dollars per tonne. There followed a rapid devaluation, was in the course of the copper price fell below the year 2008/09 the mark of 3,000 dollars per tonne. Since then it has gone steadily upward. The long-term upward trend increased the price of copper by more than 7,000 dollars in the last 25 months. The trend in copper prices experienced an increase in value of +236.12 per cent.
provides news mainly to the robust economic development for attractive price developments in the industrial metals. China also remains 2011, the largest copper consumer with a projected increase in the gross domestic product (GDP) of more than eight percent. For the second-largest copper consumer, the U.S., economists expect a GDP increase in the order of +3.4 percent.
copper deficit in 2011
The rising demand and limited supply are driving up copper prices higher. The supply deficit in 2011 will amount to 822 000 tonnes, according to a report by the British Barclays Bank, which the news agency Bloomberg is present. This would double the deficit is higher than last year.
addition to industrial demand also set more financial investors to a rising copper prices. In the United States commercial banks are their customers with copper fund. Fund managers must deposit such funds with physical copper. This results in an additional component of demand, which should drive the copper price upwards.
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