We all know copper is down,
But a snippet of a snippet from bloomberg shows:
Copper's so-called relative strength index, used by some investors to gauge price direction, was at 18.96 today. A reading below 30 typically signals prices may rebound.
``The sell-off has been overdone,'' Norrish said. Still, a rebound likely won't be ``significant.''
Nine of 17 analysts, investors and traders surveyed by Bloomberg News yesterday and Jan. 3 forecast copper will rise next week. Eight expect prices to decline.
Supply Disruptions
Supply disruptions may provide support to prices, Norrish said. Dona Ines de Collahuasi, Chile's fourth-largest copper mine, said yesterday equipment repairs this month will reduce production by about 30,000 tons. The loss is equal to 7 percent of its 2005 output of 427,000 tons.
Australia's Lafayette Mining Ltd., which is developing a $60 million mine in the Philippines, delayed its first exports of copper concentrate until April after repairs from a typhoon took longer than expected.
- Forums
- ASX - By Stock
- COPPER
- short term bottom in for how long
short term bottom in for how long, page-2
-
- There are more pages in this discussion • 6 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add COPPER (LME) to my watchlist
(20min delay)
|
|||||
Last
$2.71 |
Change
0.000(0.00%) |
Mkt cap ! n/a |
Open | High | Low |
$2.71 | $0.00 | $0.00 |
Featured News
The Watchlist
AHK
ARK MINES LIMITED
Ben Emery, Executive Director
Ben Emery
Executive Director
SPONSORED BY The Market Online