read this, page-16

Poor_beer lets get back to business, enough garbage and drivel. If you're in the mining game then you should know better, BUT I've seen little from your posts on any stock that shows your expertise in mining.

I'm glad that some analysts are starting to use their brains, they have been a bit slow to realise, but at least they are starting to wakeup and understand that China is still going ahead at full steam.

Goldman Sachs expects London copper prices will grind 10% higher to $5,800 per ton thanks to Chinese demand. The industrial metal trades on exchanges in Shanghai, London and New York. Shanghai traders bought fistfuls of copper earlier Thursday following news that China grew 7.9% in the second quarter. Speculators there can see first hand the demand for infrastructure projects engaged by the government's stimulus plan. Copper imports climbed to a record level in June according to customs office data at the Shanghai exchange. Meanwhile a decline in stockpiles leaves investors in no doubt that locals are actively using raw copper.

State buying of copper has likely run its course and the speculative money is now what's pushing prices up. While copper is now more expensive, the state's buying spree is likely done precisely because prices have moved its way.

It remains difficult to parse the situation. The Chinese in retrospect did a smart thing sucking up as many raw materials as they could when prices were slipping and the global economy falling apart at the seams. Industries weren't producing and so were destocking, further hampering an already limp demand element. But now, rosier times have emerged, making the sizeable purchases look like a stroke of genius.