the worlds rolling in copper, page-14

re: chris what do u think of zinc or lead or nicke looks like it could reach chris's target overnight.

http://economictimes.indiatimes.com/Markets/Commodities/Copper_zinc_hit_the_lower_circuit_after_LME_crash/articleshow/1042770.cms

In the LME cash market, the overnight fall in copper price was about about $400 from $6,201 to $5,785 per tonne. This translates to a 6% reduction in price by about Rs 2 lakh per tonne, or Rs 20 per kg for local buyers.
Sharad Parikh, one of the agents for copper producer Sterlite Industries, and director at the Bombay Metal Exchange said, “Over the last 15 days, the price has continuously slumped from $7,600 levels and buying had completely stopped. However, now that copper has fallen below $6,000, the user industries will purchase about 25% of their requirement. The expectation is that prices will fall by another $100-200 before they start rising again.”


It is interesting that the users are not buying and you cant blame them, you would wait until the prices have bottomed wouldnt you?
They will have to come in soon and lend some support to the price.

andrew