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Copper Group Pours Cold Water on Hot Rally With View of Plenty

From bnnbloomberg.ca

One of the best performers in a red-hot commodity market may be headed for a speedbump. The International Copper Study Group said on Monday that supply of the metal will exceed demand this year and next, countering expectations for tightening supplies that have driven the metal close to a record high. “This assessment of the ICSG contrasts sharply with those of many other market participants, who envisage another seriously undersupplied copper market this year,” Daniel Briesemann, an analyst at Commerzbank AG, said in a note Tuesday. “If the ICSG turns out to be right, the high copper price would not be justified ... (full story)

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  • Category: Fundamental Analysis