`Light' Fed Taper Not a Big Deal to Copper: Hoffman

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Sept. 16 (Bloomberg) -- Bloomberg's Scarlet Fu and Bloomberg Industries Ken Hoffman put futures in focus with a look at the impact of the expected Federal Reserve and demand out of China on the copper market in "On The Markets." They speak on Bloomberg Television's "In The Loop."

It is time for futures and focus.

We are watching copper.

It is often used as an economic indicator.

It is holding steady before tomorrow's fed decision.

I am joined by ken hoffman.

Copper has been in the spotlight the last few days.

I know you focus a lot on the super cycle for copper.

What does your research show you?

Super cycle is everything.

You have china, china has been going up, up, up.

People focus so much on china and the demand picture that they also in -- that they often lose sight of that demand -- the supply picture.

It is really more of an art than a science.

Every single year, it looks like there will be four or five percent and copper supply.

Yesterday, you saw a huge mine in alaska, it was a $5 billion mine.

Environmentalists were really rallying against it.

Why is it so difficult to get a handle on the supply?

A copper mine is difficult.

You are dealing with water, striking miners, governments who want to tax them.

Every company , they cannot get them up.

You have a lot of moving variables.

There is a big gap between what analysts see and what traders see.

There is a pretty big gap.

The analyst believed the super cycle is over and you are not going to see any new supply.

The traders say, markets are tight today.

China is importing a lot more.

The analysts are completely different.

If you talked to a lot of portfolio managers, it would be the exact same thing.

Any guesses as to how copper will move?

If they do not do anything, it would be a big positive for copper.

If they do something, it is baked into the mix.

Thank you so much for today's futures in focus.

We are on the markets once again.

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This text has been automatically generated. It may not be 100% accurate.

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