European copper demand at its lowest in Q4, says Goldman Sachs

Dec 20, 2011 | 09:49 AM |

European copper demand, which has been very weak since August, has reached a low level that is unsustainable in the current quarter of 2011, Goldman Sachs analysts said on Tuesday December 20.

Goldman, whose calls on copper are watched closely by the market, said that meetings in the USA and Europe suggested that current prices were likely to generate buying from industry and speculators.

"While most funds remain on the sidelines heading into year end, recent marketing trips to Europe and the US have led us to believe that current price levels are looking increasingly attractive to consumers and funds alike," the bank said.....

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