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Gold/Mining/Energy : Copper - analysis -- Ignore unavailable to you. Want to Upgrade?

To: Robert Douglas who wrote (138)	6/17/2000 12:36:00 PM
From: tyc:>	Read Replies (1) \| Respond to of 2131

The last time LME inventories were at 582,000 tonnes and falling, was in 1994. The price of copper was the same as it is now (about .80-.85 c per lb). Subsequently in 1994, inventories continued to fall and prices rose eventually to $1.40 per lb. In relation to world consumption, the current 582,000 tonnes must be lower than 1994's ! Increases in interest rates may dampen demand, but fed policy is to achieve "sustainable growth", not to cause a recession.