According to a report by Dow Jones Newswires, Maquarie believes the squeeze in the copper market has peaked, with prices set to revert towards $US2.50 a pound in the fourth quarter of 2007.
"While fundamentally, the various metal markets should trade on their own merits, we think such weakness in the copper market could influence the direction of the broader complex and that's why we recommend caution in the near term," Macquarie analysts said in a client note cited by the newswire.
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