Scrap Metal Prices and Scrap Metal Auctions » Chinese Metal Market http://scrapmetalpricesandauctions.com Current scrap metal prices, scrap recycling prices, historical metal price charts, military auctions. Covers U.S.A. China, U.K., India, Europe, etc. Fri, 20 Nov 2009 23:40:31 +0000 http://wordpress.org/?v=2.8.5 en hourly 1 Copper Prices Remain Higher on Chinese Demand http://scrapmetalpricesandauctions.com/2009/04/copper-prices-remain-higher-on-chinese-demand/ http://scrapmetalpricesandauctions.com/2009/04/copper-prices-remain-higher-on-chinese-demand/#comments Thu, 16 Apr 2009 13:00:18 +0000 admin http://scrapmetalpricesandauctions.com/?p=978 Amid the acute uncertainty, the copper prices remained higher on Thursday with the intense buying support from China. The rise has been a promising one however analysts are cautioning investors against the euphoria from China.

Near-term copper futures in New York rose to $2.20 a pound Wednesday, up from $2.11 on Tuesday and the highest since mid-October. The price has surged from $1.41 a pound at the end of 2008. LME Copper crossed the $ 4750 per ton to close at $ 4769 per ton mark.

The rise has been a promising one however analysts are cautioning investors against the euphoria from China. The real economic activity for metals consumption is not yet seen on ground levels and any decline in inventory and rise in demand from China is for the purposes of stocking rather than immediate consumption.

Source: www.commodityonline.com

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