US construction to help copper in 2013

Jan 24, 2013 | 03:12 PM | Suzy Waite

Tags  Copper, Freeport-McMoRan Copper & Gold, Richard Adkerson, Christopher Ecclestone, Hallgarten, Morgan Stanley, John Tumazos, Very Independant Research Citigroup

NEW YORK — Analysts and producers are reasonably optimistic about copper demand this year as a number of end-markets, notably U.S. construction, rebound.

Even a modest recovery in construction will undoubtedly boost copper markets, analysts and producer sources said.

"I’m expecting a construction recovery in 2013. Not a rip-roaring one by any means, but a moderate, bubbling recovery," Christopher Ecclestone, mining strategist at Hallgarten & Co. LLC, told AMM. "It can’t stay in the dumpster forever. It’s been five years."

A second analyst agreed. "Construction spending in the U.S. improved ... in 2012 after five years of consecutive declines. It’s just a matter of how much it will increase, but the link to construction spending (will boost copper)," he said.....

Latest Pricing Trends


Are you stocking more inventory today than 18 months ago?


View previous results