Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts
Back to Investments

Copper May Reach Above $7,500/T Before Re-Stabilising Shorts: Barclays

Saturday, May 11, 2013 - 4:40 AM
LONDON (Commodity Online): Copper prices may witness further upward movement as market positioning is still short with positive demand signals from China. The base metal prices may rise above $7,500 per ton before re-stabilising shorts, stated London based Barclays in its recent market report.

This week, across the base metals complex, short-covering dominated price dynamics. In the context of extreme CTA short positioning, a stronger-than-expected US employment report alongside a surge in German factory orders for March combined to act as catalysts to fuel the move in prices.

From a fundamental perspective, stock trends have been turning more positive. LME stocks have levelled out, SHFE and Chinese bonded stocks are falling.

Get mcx copper tips by market experts, which provide accurate copper tips for traders to get profit from market.

Other indicators of Chinese demand are also positive, physical premiums are high, SHFE time spreads are in backwardation, the import arb is still open and data on end-use activity in some sectors have continued to improve.

Read more: Trading Tips Expert | Get Intraday Trading Tips from Stock Market Expert's

Commodity Tips | http://www.sharetipsexpert.com/services.aspx
1
harreymartinharreymartin9 posts since
Feb 26, 2013
Rep Points: 10
Reply