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World copper price remains high

According to official statistics, during the 10 months of 2010, only domestic sales of household appliances in China increased by 20.5% (relative to the APPG is also not particularly depressed rates). Also in China rapidly developing energy sector, in which it is planned, in particular to carry out the expansion of electricity networks in rural areas of the country. Accordingly, the demand for copper in China, a global driver of copper remains at a high level of prices (production of household appliances and energy consumption in terms of copper are the leaders of Chinese industry). This, coupled with the fact that the metal is one of the main raw material commodity exchanges of assets, suggests that the average world price of copper in the short term will be high with a tendency to increase.

In the third quarter of world demand for copper continues to behave outside the box, keeping the upward price trend instead of the usual at this time reducing. According to recent data, from August to November inclusive, the average cash price for copper on the LME increased already at 1198.15 $ / ton (16.4% growth). As a result, analytical and consulting group «CRU» (Great Britain) significantly adjusted the estimate of global copper demand in the third quarter of 2010 upwards, lifting it to a record 4.725 million tons, and predicts preservation of growth tendencies and at the end of the year.

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