Increased Copper Prices by 2013 Despite Ireland Bailout

Posted in Industry News on 6th December 2010

William Rowland are a leading supplier of Copper.

By the end of November, copper had modest losses in New York and London whilst aluminum and zinc saw an increase.

Concerns remain that further debt problems are to hit Europe caused by the 85 million euros bailout and further monetary assistance given to other European nations. Investors have now been drawn towards the safety of the US dollar following two-month lows for the euro against the dollar.

"You could make the argument that now that the dollar is strong, metals can stabilise because now people don't want euros anymore." - Donald Selkin, Chief Market Strategist with National Securities Corp.

Copper prices have rebounded in the last few days on the local non-ferrous metals market following an increased demand from its consumers and a firm trend at the LME (London Metal Exchange).

It is thought in the long term that a growing production deficit and rising demand will increase copper prices to all time highs there is even some speculation that it could peak well above $11,000 per tonne by 2013.

In London, prices for copper wire scrap, copper wire bar and copper mixed scrap were strengthened.

William Rowland Ltd are copper suppliers, and if you would like to find out how we can meet your requirements, please contact us using the Quick Enquiry Form on the right-hand side of this website.

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