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

To: Stephen O who wrote (1161)4/12/2005 10:52:35 AM
From: Stephen O  Respond to of 2131
 
NEW YORK (Dow Jones)--Prudential Equity cut its price target on copper miner
Phelps Dodge (PD) to $137 from $150 and London-listed Antofagasta (ANTO.LN) to
$30 from $32 as it lowered its copper price estimates for 2007-2008 to $1.50
from $1.75 a pound and for 2009-2010 to $1.08 from $1.75 a pound.
"Our base case now suggests the current copper bull market may conclude
after six years in 2009 owing to a growing amount of new mines in Chile
outside of the 2nd Region, Mongolia, Peru, Brazil, Zambia, or other areas."

(END) Dow Jones Newswires



To: Stephen O who wrote (1161)4/12/2005 10:56:13 AM
From: TrueScouse  Read Replies (2) | Respond to of 2131
 
Stephen:

< Copper futures in Shanghai also rose to a record for a
second day, gaining 2.3 percent to 33,620 yuan ($4,062) a ton.>

This is over $1.80 a lb. Can you explain why the nearby COMEX price is about $0.25 below this level?

Thanks,
Howy


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