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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (5593)	12/6/2005 2:54:57 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

" The State Reserve Bureau probably has 1.3 million tons of copper inventories and needs to sell 100,000 to 200,000 tons to cover bets prices would fall, the report said. ``Once the positions are finally settled, we expect prices to fall precipitously, perhaps by 50 cents a pound,'' Citigroup said. Until then, the March futures contract will probably reach $2.20 a pound, said William O'Neill, a partner at Logic Advisors LLC in Upper Saddle River, New Jersey. Stockpiles monitored by the Comex are down 92 percent this year, and they fell 150 tons, the first drop in seven days, at warehouses approved by the London Metal Exchange. " bloomberg.com