Monday, February 9, 2009

Copper hits 2-month high on China demand hopes -- Reuters

What's weighing on metal prices? -- article highlights

--> China is buying up copper from domestic bonded warehouses
--> Weak economic data reports from Japan and Europe
--> Copper, aluminum stocks on LME continue to rise

Seems as if the China factor outweighs the negative data from Europe. Chinese demand in my opinion will not be enough to push metals, in particular copper back to record setting highs of 8 months ago.

None the less, as reported in this Reuters article people remain cautiously bullish.

Click here to access the full Reuters article