Happy Creek Minerals Ltd V.HPY

RE: Copper in Europe

[GoldMan22]

https://www.kitco.com/reports/KitcoNewsMarketNuggets20110513.html

Market Nuggets: Barclays: Recent Copper Sell-Off Presents'Buying Opportunity'

13 May 2011, 04:11 p.m.
By Kitco News
https://www.kitco.com/

(Kitco News) -- The recent sell-off in copper prices is likely to be a bargain-hunting opportunity, say analysts with Barclays Capital. The metal fell lately on concerns about softer Chinese imports and uncertainties about the global economy that dragged down many commodities. However, Barclays says it considers the sell-off in copper to be “overdone.” Barclays says its models suggest copper is about $250 per metric ton below fair value. Similar “undervaluation” occurred in November and December but did not last long, Barclays says. Meanwhile, some physical market indicators have picked up and the bank looks for stronger supply/demand fundamentals in the future. “Although prices will remain vulnerable to macroeconomic concerns, we believe that the recent sell-off has provided market participants with a buying opportunity that might not otherwise have arisen, and as such we expect the dip in prices to be short-lived.”