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Gold/Mining/Energy : Copper - analysis

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To: Stephen O who wrote (1151)	3/31/2005 10:27:34 AM
From: Stephen O	Read Replies (1) of 2131

Copper Rises for 5th Straight Session on Signs of Demand Growth 2005-03-31 08:32 (New York) By Jennifer Itzenson March 31 (Bloomberg) -- Copper prices rose in New York for the fifth session in a row on expectations that low stockpiles and buying by China signal growing demand for the metal used in cars, homes and appliances. Global stockpiles at warehouses approved by the London Metal Exchange have dropped 8.4 percent this year. Inventories monitored by the Shanghai Futures Exchange fell 42 percent last week to 21,463 tons, the lowest in more than two months. ``Total stockpile levels are still very low considering that the peak demand season is swinging in full gear,'' Robin Bhar, an analyst at Standard Bank in London, said in a report. Copper futures for May delivery rose 0.3 cent, or 0.2 percent, to $1.495 a pound at 8:32 a.m. on the Comex division of the New York Mercantile Exchange. A futures contract is an obligation to buy or sell a commodity at a set price by a specific date. --Editor: McKiernan Order imbalance on PD this am. PD now up $2.87. Morgan Stanley rates as outperform.

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