Copper experts say demand for the metal is on the riseCreated: 7/21/2010 9:35:36 PMMetal experts reported on Wednesday that the demand for copper is “stronger” than U.S. economic signals may suggest.
“Physical markets are really stronger than economic indicators in the U.S.,” said Richard Adkerson, CEO at Freeport-McMoRan Copper & Gold, Bloomberg Businessweek relays. “Our order books are filling up more strongly than they have in some time.”
Adkerson said a growing demand in China and supply constraints will combine to put pressure on the price of copper, leading to the copper-trading company’s optimistic outlook on the metal.
Copper futures have more than quadrupled during the past eight years, Bloomberg reports, with futures for September delivery rising 9.5 cents.
The news that copper is rebounding on the world stage is reassuring for many audiovisual cable companies, after Bloomberg Businessweek recently reported the price of copper had fallen by 10 percent in 2010. Many of the world’s communication and
computer cables, such as CAT 6 and coaxial cables, are made from copper; thus, fluctuations of the metal’s worth directly impacts many worldwide distributors.
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