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

To: mcbeanburger who wrote (1836)	9/18/2007 11:29:52 AM
From: Stephen O	Read Replies (1) \| Respond to of 2131

Copper May Rise in Early 2008 on China, JPMorgan's Jansen Says 2007-09-18 10:14 (New York) By Claudia Carpenter Sept. 18 (Bloomberg) -- Michael Jansen, a metals strategist at JPMorgan Securities Ltd. in London, said limited stockpiles of copper in China, the world's biggest buyer of the metal, may push prices to $8,200 a metric ton early next year. Copper for immediate delivery was at $7,540 a ton as of 2:31 p.m. on the London Metal Exchange. Jansen spoke today at a conference in London organized by American International Group Inc. and Dow Jones & Co. ``It won't take much'' for China to use up its estimated stockpiles of 150,000 tons of copper against annual demand of 4 million tons, he said. ``We think generally we'll see a last hurrah in spot prices early next year, principally led from copper.'' ``The one metal we think will outperform in the next 12 to 18 months is going to be aluminum. It's not that it's going to push higher. But we certainly think the downside is extremely limited.'' The rally in industrial metals including nickel, zinc and tin peaked earlier this year, he said. ``In that run-up in prices, we've started to see some push back from the consumers, we're starting to see substitution pressures, we're starting to see thrifting. All the indicators'' that signal ``it's the end of the up cycle.'' ``A year ago we were very much focused on supply: will the industry be able to generate enough to meet record demand. I think that debate is largely solved. Now we're very much focused on demand. And the demand side risks are very much amplified'' by losses from subprime mortgages. --Editor: Wallace (ttt)