CopperStrong global demand will likely see copper prices stick...

Copper
Strong global demand will likely see copper prices stick to levels close to record highs
"for some time," Norddeutsche Affiniere AG’s, Chief Executive Officer Werner Marnette
said. LME copper for three-month delivery traded around $8,000 a metric ton
Thursday afternoon. "Copper prices will stay at levels comparable to now for some
time, even though I would favor lower prices due to their effect on the working capital
of international industry," Norddeutsche CEO Marnette told Dow Jones Newswires
during a telephone interview. Norddeutsche is Europe’s largest copper producer.
Small and medium copper fabricators, a key feature in the German market, struggled
with high copper prices and the market’s extreme volatility binding much higher levels
of working capital. Copper demand growth would likely average 4%-7% in the
European Union going forward, around 8% in China and 2.5%-4% in other Asian
countries, Marnette said, in line with other industry forecasts. Copper demand in
the German market has remained strong during 2006 despite the LME price doubling
from the start of the year to a record $8,825/ton in May, reflecting "many years" of
underinvestment in energy technology.