0254 Mining Commodity Attractiveness Industry Analysis Gold Copper Lead and Zinc
Grand Commodity Advisory COPPER REPORT 2011
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Grand commodity advisory --- -- www.grandcommodity.com 30/12/2010 Copper: More Than China·s Property Market Due to an improved risks sentiment, copper price is sitting at its peak i.e. on Life time High mostly from the following reasons: Tight supplies Falling Copper inventories Launch of the copper ETF Pick up in Copper Imports and Demand from China China·s Tax Waive-off plan On the other hand, much of the focus has been put on China, while some other equally important factors are currently being overlooked by inves tors. The following sections will highlight some of the emerging trends in the copper market. China Is Not the Only Game in Town Copper is a base metal used predominantly in building construction, power generation and electronic products. As such, the metal tends to be highly sensitive to the macro environment. China is the world·s biggest copper user³about 38% of world copper demand) ² followed by the U.S. Since the growth in the United States is likely to be sub par in the medium term, China will likely remain the main catalyst of copper. However, as other emerging and developing economies race to catch up with the West, China is not the only game in copper town. A review of the top 10 global mega c onstruction projects (See Graph) identified by Engineering News-Record shows multi-billion-dollar projects ranging from the 60- Billion land reclaimation in Egypt to Saudi·s $80 Billion effort to diversity its economy away from oil and gas.
Transcript of Grand Commodity Advisory COPPER REPORT 2011
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