Copper Prices Driven by China Market Demand

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Oct. 22 (Bloomberg) -- Bloomberg's Scarlet Fu and Bloomberg Industries’ Kenneth Hoffman put futures in focus with a look at the price impact of China’s copper demand in "On The Markets." They speak on Bloomberg Television's "In The Loop."


Is a discussion over what the fed is going to do next, or is it more fundamental?

The main thing you want to care about is china.

Asia is 2/3 of global copper demand.

You will understand what drives the price of copper.

Tonight, watch out for the hsbc market industry pmi, they are looking for 50 spot four, up from 50 spot 2. that has been rising.

That has been really helpful to the price of copper.

That might give an indication of chinese demand.

How much is that versus financing demand?

Financing demand is huge, but inventories have been coming down in china.

It is shocking how chinese demand has been picking up really fast.

We came out with some numbers that showed the deficit and china grew to its largest levels -- 156,000 metric ton deficit in china, that has been a driver of demand in china.

What is going to win out, chinese demand or the supply side?

From what i understand, we have plenty of supply.

We have plenty of supply in the west, but in china they don't have a lot of copper.

Chinese copper production fell 10% year over year.

They have been setting up for record imports.

China, the driver of everything, they need metal.

If there is excess, they tend to put it in the financing traits, that has been helping copper move higher.

You have been studying metals for a long time.

How do you recommend investors make money off of copper?

I have been following it.

It is a typical market.

If you understand china, i talked about china way too much.

If you can understand chinese demand, what is going on with chinese supply and look at the industry trends, you will be able to make money in copper.

Ken hoffman, watch china.

On the markets again in 30 minutes.

"market makers" is up next.


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


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