Copper Trade Most Bullish Since March After China Cuts

Copper traders are the most bullish in three months as China, the biggest buyer, reduced interest rates to bolster growth, increasing expectations that prices will rebound from the longest slump in two years.

Sixteen analysts surveyed by Bloomberg said they expect prices to gain next week and seven were bearish. A further eight were neutral, making the proportion of bulls the highest since March 9. Stockpiles in warehouses monitored by the London Metal Exchange, the world’s largest metals bourse, declined 38 percent this year and Morgan Stanley is predicting at least another year of supply shortages.