Copper prices to feel market’s drag in 2013

Oct 15, 2012 | 12:12 PM | Mark Burton

Tags  copper prices, copper demand, Shanghai copper stocks, mine supply

LONDON — Copper prices next year could feel the drag of weaker industry demand, market sources said ahead of the London Metal Exchange’s start of LME Week Monday.

In 2013, copper prices will continue to be roiled by macroeconomic factors, but in the intervals between new rounds of quantitative easing and fresh credit crises they are likely to become re-tethered to fundamental market conditions, which at this point look set to drag tags lower.

Prices will continue to be supported at low levels by institutional funds that are buying copper on its long-term outlook, but the questions being raised about the nearby supply and demand outlook could weigh on shorter-term investors’ appetite for the metal, sources said.....

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