Further to the current and trending gold weighted resource, CQT also has ingound copper weighing in at just on 40,000 tonnes. The following article off the Bloomberg wire service explains the price rebound and demand for Cu particularly from China.
Copper Has Biggest Weekly Gain Since May on Chinese Demand
By Halia Pavliva and Millie Munshi
March 16 (Bloomberg) -- Copper prices climbed in New York, capping the biggest weekly gain in nine months, on signs of rising demand in China, the world's biggest buyer of the metal.
China's copper output fell 1.8 percent from a year earlier in the two months ended February and industrial output soared 19 percent, above analysts' forecasts and the 15 percent gain in December. Imports of copper and copper products in February surged 70 percent.
``We had bullish data come out this week,'' said Catherine Virga, an analyst at CPM Group Inc. n New York. ``Prices at these levels are justified'' and may rise over the next two months, she said.
Copper futures for May delivery rose 2.3 cents, or 0.7 percent, to $3.011 a pound on the Comex division of the New York Mercantile Exchange, closing above $3 for the first time since Dec. 19. Prices climbed 8.1 percent this week, the most since late May.
CQT Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
