Copper market commentary for the first half of 2006 and the future outlook

摘要

Speculated fund pushed the copper price to exceed 8,000 US dollars a tonne in May spurred by the rise of commodity price and the shortage of copper supply. The bottleneck factor behind the copper supply shortage has transferred to copper mines side with the great scale of expansion at copper smelting sector. Antaike forecasts that copper market continues to maintain deficit and price climb up. Antaike estimates average copper price of cash month on LME at 6,832 US dollars a tonne and average copper price of .cash month on SHFE at 63,850 yuan a tonne in 2006.