Copper investment to become hot in H2, analysts (www.chinamining.org) Updated: 2009-07-08 15:58 Counter:2334
Excessive capital fluidity is expected to boost a new round of bull run for China's commodities market in the second half year and copper will become a hot product for investment, some analysts said at a forum on derivatives investments Tuesday.
China's commodities market rallied far beyond the expectation in the first half year, which has triggered worries over whether such buoyancy can persist in the rest of the year.
Li Peiyin, a senior analyst with Essence Securities predicted that the likely prominent growth of China's economy in the fourth quarter will serve as a solid foundation to prop up copper prices.
Copper prices in China may fluctuate in the range of 38,000-42,000 yuan/ton in the third quarter and is likely to rise to 42,000-48,000 yuan/ton in the following quarter along with a possible strong rebound of world economy as well as an increase of infrastructure construction in China, Li added.
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