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

To: Stephen O who wrote (1398)	3/7/2006 10:05:25 AM
From: Stephen O	Read Replies (1) \| Respond to of 2131

Copper, Little Changed in New York, May Rise on German Demand 2006-03-07 09:01 (New York) By Claudia Carpenter March 7 (Bloomberg) -- Copper prices, little changed in New York, may rise on speculation that faster growth in Europe will increase consumption in Germany, the world's fourth-biggest consumer of the metal. Orders for goods made in Germany increased 1.4 percent in January compared with December, the Economy and Technology Ministry in Berlin said today. The European copper market is ``getting tighter,'' Barclays Capital said in a report today. The European Central Bank is ``talking about raising interest rates, which really is a response to economic strength in Europe,'' said Daniel Vaught, an analyst at A.G. Edwards & Sons Inc. in St. Louis. ``That certainly implies improved demand for raw materials such as copper.'' Copper futures for May delivery were at $2.198 a pound at 8:44 a.m. on the Comex division of the New York Mercantile Exchange. Prices dropped 3 percent yesterday and 0.2 percent on March 3. A futures contract is an obligation to buy or sell a commodity at a set price by a specific date. China is the world's biggest copper buyer, followed by the U.S. and Japan, according to International Copper Study Group estimates. --With reporting by Matthew Brockett in Frankfurt. Editor: Enoch