China and the U.S. are the world’s biggest copper users. The trend in metals prices has been notably higher, with several touching multiyear highs recently as investors increasingly find it more desirable and easier to diversify into hard commodities.
Dec 30, 2010 – Copper climbed to records in New York and London after U.S. businesses grew at the fastest pace in two decades and Chinese manufacturing expanded, signaling robust demand
We recommend Buying coppermoly ( coy ) at this price 0.13
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Speculation for copper price rise
Copper for March delivery(HGH11 437.90, +1.65, +0.38%) rose 5 cents, or 1.2%, to close at $4.3625 a pound, surpassing its record high of $4.3225 a pound set Tuesday. “The technicals are clearly in control here,” as copper earlier this month broke through a high that reached back to May 2006, said Richard Ross, global technical strategist at Auerbach Grayson. “The recent gains are an extension of that breakout … and people say, “We’ve traded $4, maybe we can trade $5.”
Copper may rise on speculation that U.S. jobs and factory reports will signal growth in the world’s biggest economy, a survey showed. Seven of 12 analysts, investors and traders surveyed by Bloomberg, or 58 percent, said the metal will gain next week. Four predicted lower prices and one was neutral. Copper for three-month delivery rose 1.8 percent for this week to $9,510 a metric ton as of 3 p.m. yesterday on the London Metal Exchange.
Speculator ( David Hazlehurst ) on coppermoly ( coy )
We added Coppermoly (COY) to our trading portfolio just three weeks ago af ter learning that the junior
prospector was talking to various large but unidentified companies about a possible joint venture on its copper
project on New Britain in Papua New Guinea
These graphs are published as a guide to the trends and movements in the Australian Electrical and Electronic Manufacturer’s Association (AEEMA) copper price, expressed in Australian dollars.
The copper spot price is calculated by taking the overnight LME closing price in U.S. dollars, and converted to Australian dollars and includes the local copper premium.
About COY – Coppermoly Ltd
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Coppermoly is focused on adding value to its existing portfolio of projects. By taking projects to a stage of pre-feasibility, joint partners are sought to take them to a development stage. This then allows Coppermoly to Focus on acquiring new projects and advancing these, if warranted, to a saleable product.In allowing major mining companies such as Barrick to advance our projects, we provide the best opportunity to progress the value of our assets. This value improvement will then be reflected in the value of shareholder’s stock.