short term bottom in for how long, page-2

We all know copper is down,

But a snippet of a snippet from bloomberg shows:

Copper's so-called relative strength index, used by some investors to gauge price direction, was at 18.96 today. A reading below 30 typically signals prices may rebound.

``The sell-off has been overdone,'' Norrish said. Still, a rebound likely won't be ``significant.''

Nine of 17 analysts, investors and traders surveyed by Bloomberg News yesterday and Jan. 3 forecast copper will rise next week. Eight expect prices to decline.

Supply Disruptions

Supply disruptions may provide support to prices, Norrish said. Dona Ines de Collahuasi, Chile's fourth-largest copper mine, said yesterday equipment repairs this month will reduce production by about 30,000 tons. The loss is equal to 7 percent of its 2005 output of 427,000 tons.

Australia's Lafayette Mining Ltd., which is developing a $60 million mine in the Philippines, delayed its first exports of copper concentrate until April after repairs from a typhoon took longer than expected.