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

To: Stephen O who wrote (1122)	3/16/2005 11:08:24 AM
From: Stephen O	Read Replies (1) \| Respond to of 2131

Copper Prices Rise on Speculation Chinese Demand Will Increase 2005-03-16 09:13 (New York) By Choy Leng Yeong March 16 (Bloomberg) -- Copper prices in New York rose to their highest in more than a week after China, the world's biggest metals user, said spending on factories, roads and other infrastructure increased in the first two months of 2005. Fixed-asset investment in urban areas increased 25 percent from a year earlier to 422 billion yuan ($51 billion), the National Bureau of Statistics said in Beijing today, surpassing China's annual growth target of 16 percent. Copper yesterday gained the most in three weeks after China said industrial production rose 17 percent in January and February, exceeding the median analyst forecast of 15 percent in a Bloomberg survey. ``We saw some good buying coming out of China overnight,'' said Edward Meir, an analyst at Man Financial Ltd., a metals trading company in Darien, Connecticut. Apart from yesterday's industrial production, ``the fixed assets investments, which is government expenditure on infrastructure, also came out much higher than expected.'' Copper futures for May delivery rose 1.85 cents, or 1.2 percent, to $1.509 a pound at 8:56 a.m. on the Comex division of the New York Mercantile Exchange. Prices earlier reached $1.514, the highest since the 16-year high of $1.521 on March 8. A futures contract is an obligation to buy or sell a commodity at a set price by a specific date. --Editor: Enoch