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Commerzbank: Copper will go up, but it is only a short-term phenomenon

Analysts «Commerzbank» — one of the most powerful financial corporations with headquarters in Germany — believe that the three-month contracts for copper in the short term rise. «The rebound may occur after the quotation reached the resistance line at around 7740 USD per ton. After a brief rise in prices, we are waiting nezatyazhnoy «Flete», followed by a second «bearish» trend «- predict the potential behavior of the cost of the copper contracts German experts.

A few days earlier, their views on copper trend experts expressed another major German finance market structure — conglomerate «Deutsche Bank». According to them, «Bychikha» vectors of copper prices is expected by the second quarter of the year. «While the red metal cost (to a great extent — due to the lack of expected» post-holiday «movement in the Asian market), shows a negative trend. This factor led investors to be justified concern. However, our analysts are sure that the cooling economy locomotive demand for copper — China — is not expected. So the beginning of the cycle reserve replacement — a matter of time, whose resolution can wait no more than in April, «- assured the financiers," Deutsche Bank «.

The same positive outlook for the copper market in the coming 3 months expressed (in early February), Australian experts of «Macquarie Bank». According to research conducted by experts of this structure, the prospects for the red metal market very positive. «After the Chinese New Year — when smelting enterprises will make up almost issyakshie copper reserves (as they are now at a critically low level) — rebalancing the purchase prices for the metal in the direction of increasing can guarantee» — then summarized his observations of analysts, «the Macquarie».

Meanwhile, the current situation in the copper sector does not shine a positive. So on the London Metal Exchange on the last day of winter, the cash copper price was trading at US $ 7828 per ton (which is 0.04% lower than the value of the metal for days earlier), continuing, thus, almost three weeks (except for minor fluctuations) vector bright negative trend.

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