rally in copper prices specified China may slightly weaken
Activity of Chinese investors is the main engine of growth in copper prices amid expectations for an increase in budget spending in China. Moreover, it should take into account the increase in spending on the development of the US infrastructure, planned administration of President Trump. However, the tightening of regulatory standards in China, designed to restrict speculative purchases may slow the pace of price growth, according to BMI Research report. "We expect that the price will lose some positions won by the beginning of November, because China restricts speculative trade, increasing margins and taxes on transactions. (It should also be taken into account) the continued uncertainty about the Trump plans", - the report says. "Nevertheless, prices will remain supported and will remain in the range of 5000-6000 dollars (per tonne), since the copper market will continue to be observed more limited supply compared with previous years due to continuing budget spending in China", - analysts report. At the time of this writing, copper traded higher by 1.2% at 5835.40 dollars per ton.
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