Copper Targets New Record on China Buying, ETFs, Antaike Says
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Copper may rally to new records as China imports more of the metal in the first quarter and the launch of exchange-traded products locks up physical supplies, said an analyst at Beijing Antaike Information Development Co.
“Copper is in an upward trend, so new records can be expected,” Yang Changhua, a senior analyst at the metal researcher, said by phone from Beijing today. “The global supply shortage offers fundamental support, and money continues flowing in amid investment demand,” said Yang, who has been doing copper research in China for 15 years.