Shanghai Metal Corporation

   When reviewing 2010, under the background of global economic recovery, we found that copper price rise from 6000-7000 USD per ton at the beginning of the year to 8000-9000 USD per ton at the end of the year. At December, copper price breakthrough 9000 USD, was about 9678 USD per ton, at the same time, it was also the new history high. Compare with the highest and lowest price last year, we can tell that in 2010 copper price increasing is about 60.43%.

   In terms of domestic and foreign supply and need condition, copper price will continue to rise. As after the chinese spring festival, copper market came consuming peak period, this situation showed out after March. At the same time, as the needs of copper from ETF made copper stock shortage, so copper market was needs larger than supply, which made copper price very high.

   In sum, copper price will rebound to 10000 USD in the short time, with the large needs fo copper, so it is estimated that copper price will reach 12000 USD at the second season of 2011.

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