Personally, I don't think that copper will go back to the $2.50 range. Even if, still a long way above profitabe economics. There was a estimate that a quarter of all the worlds constuction cranes were in Beijing. If true, it's likely they would stay in the region if the Games Effect passes. In Chennai,India, population 4.2 mill , there are no buildings higher than about 6 to 8 storeys - Reason, no cranes, construction is by timber posts. Same in Yunan province. I'll stick with the emerging economies scenario and the demand exceeding supply idea.
CMR Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held