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Copper Traders Turn Bullish For the First Time Since October

December 2 2011, 09:02

FMX|Connect- WWW.FMXConnect.com (Reported on 12/2/2011)

Copper Traders Turn Bullish For the First Time Since October: Commodities

Source: Bloomberg

Copper traders are bullish for the first time in six weeks on signs that demand is still expanding as global inventories decline to an 11-month low and central banks cut funding costs to shore up growth.

Twelve of 24 surveyed by Bloomberg expect the metal to advance next week and two were neutral. The last time they were bullish overall, in the week ended Oct. 21, prices surged more than 14 percent in the following five days. Global stockpiles monitored by exchanges in London, New York and Shanghai fell 24 percent since March, data compiled by Bloomberg show. To read the full article, Click Here.

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