If you read the announcement carefully, you will see that it was...

If you read the announcement carefully, you will see that it was Goldman Sachs (Asia) LLC that was selling through CBA, not CBA itself.

Interesting to read a report just released by Goldman Sachs JB Were.

Their analysis shows that the fundamental outlook for Copper remains compelling; they expect the price to rebound. They believe that the copper price weakness should be seen as an opportunity to add to a resource position and not as a signal to sell.

They attribute the recent metal price corrections to hedge-fund selling on the back of temporarily weaker fundamentals, exacerbated by the rebalancing of investment baskets tracking the major commodity index funds such as the GSCI and Dow-Jones AIG.

They believe that copper prices will rebound because they expect:
- a strong recovery in Chinese apparent consumption and imports; and
- continuing constraints to growth in global mine production.

Thus, would expect GCR share price to recover strongly.