_Economy and Finance

SG Commodities Review: Copper Robin Bhar 2013.03.20 ■ Copper prices have lost their anchor at $8,000/t. Reasons for the sharp fall include weak physical demand, soaring exchange stocks of copper, disappointing data from China, and lack of Chinese buying after the Lunar New Year holidays concluded in mid-February.

2013 Outlook Commodities Review Copper Robin Bhar Key points ■ At current levels, around $7,600/t, we anticipate limited downside risk as fundamentally the copper market remains tight; there is scope for prices to rise given a belief that the Chinese economy has bottomed and a rebound is expected over the coming months.