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6/10/13

Quote of the day is Jean Paul Luksic on copper: "I'm a little worried"

If Antofagasta's (ANTO.L) big cheese doesn't have a clue about copper prices these days, what chance do the rest of us have? Here be the link, here be the translated quote:
"Let's never forget that copper is cyclical. Today we're in a tremendously complex world: Europe zero growth, Japan zero growth, the USA still without its growth consolidated and China with all its own problems. I'm a little worried, becuase it's very difficult to know what's happening with copper in the world. The fundamentals of copper, which are supply and demand, have been very good for years but we're now entering a cycle of this year, next and then the year after in which we'll have a production surplus, we're going to accumulate stock. There's a change, and watch out if China stops doing the things it's been doing."