well done Gizard. Gizard does your moniker come from the Boyer book?
next should be Exit and Endless? (do they have black hearts though? I think Endless that was your suggestion from memory?)
article on copper. boom next year but weakness starting now.
what will market do this week? just waiting for copper chart to stabilise and buy our pna and other favourites for a quick run back up. lower it falls in meantime the better.
China is the problem this week. this is the third time that China has taken steps to cool the market. each time resulted in falls for weeks.
I agree Padhai about pna. It is a safe solid performer to daytrade with lots of upside. boomer for next year if not earlier.
Barclays Raises Price Forecasts For Copper, Tin, Aluminum
12 November 2010, 10:59 a.m. By Kitco News http://www.kitco.com/
Montral(Kitco News) Base metals prices are expected to increase globally into 2011 as changing market fundamentals, such as supply and demand, inventories and economic sentiment, have altered initial forecasts, said Barclays Capital in a report released Thursday.
The bank forecast copper prices to reach $7,540 per metric ton in 2010, up from a previous forecast of $7,375 a ton and put its 2011 price outlook at $9,550 a ton, up from $8,038 a ton. Tin price forecasts were also updated. By the end of 2010 prices are seen reaching $25,000 a metric ton, up from $19,469 a ton and the 2011 forecast is from $26,875 a ton, up from $20,457 a ton. Aluminum price forecasts are expected to reach $2,206 per metric ton, up from $2,136 a ton, by the end of 2010. Barclays anticipates higher prices in 2011 as forecasts to were raised to $2,500 per metric ton, up from $2,250 a ton.
The updated price outlook also factors in possible ups and downs in the American and Chinese economies.
Our economists forecast robust global growth, but if the U.S. quantitative easing under-delivers, or if China takes a heavy handed to approach to tackling inflation, market sentiment and economic fundamentals could quickly sour, said Barclays.
Barclays believes global copper demand will outpace supply leading to price hikes on inventories, which are already low. Chinese base metals production is falling and they currently hold low inventory levels.
