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Analysts fix a record supply of copper on the London Stock Exchange warehouses non-ferrous metals

In the warehouses of the London Stock Exchange non-ferrous metal last week recorded a tangible increase in copper reserves. The amount of this resource in the bins after Friday LME trades reached a level of 400 thousand tons, a record trading platform for a long period of more than 12 months.

This situation worries analysts red metal market. In particular, the financial structure of the experts the ANZ (bank «Australia and New Zealand Banking Group») expressed concern for the stability of the price of copper, as the imbalance towards higher (relative to demand) metal supply volumes usually leads to lower resource prices. «If the growth in the number of copper in warehouses will maintain the current momentum, the current prices for the metal (referring to the weakened demand) will be subject to a noticeable Pressing» — commented on the prospects of trading in the copper sector, Australia and New Zealand experts conglomerate.

Meanwhile, in the near future on the global copper market is expected to low buying activity, to a large extent related to «vacation» on the Chinese exchanges. In view of the fact that China is the largest consumer of the red metal (average consumption of resources in the country is according to the last decade, more than a third of the world total), multi-day celebration of the New Year on the «lunar-solar» Chinese calendar traditionally has a significant impact on the global dynamics of sales copper. «This year, the beginning of the holidays in China fell on February 10 because of what the current week can safely predict the relative calm of the trade» — traders said the international market of non-ferrous metals. However, after the end of the Asian «vacation» players of international marketplaces expect revival of consumer activity. In this case the reason for the optimistic forecast lies not only based on the Chinese buyers, who wish to make up for «New spaces». Traders anticipate a close decision to a number of important economic and political issues in the euro zone. Their closure will help the market to partially overcome the uncertainty characteristic of the current situation with the consumption of non-ferrous metals.

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