Hedge Funds’ Fourth Bullish Week Boosts Copper Bets – Bloomberg 02-11-13

Salient to Investors:

Hedge funds et al boosted net-long positions across 18 US futures and options last week, marking the longest stretch of gains in more than 6 months.

Michael Strauss at Commonfund said economically sensitive commodities will do well in a favorable global environment for commodities.

The Intl Copper Study Group and Johnson Matthey estimate the average automobile contains 50 pounds of copper and 4 grams of palladium, platinum or rhodium.

Stanley Crouch at Aegis Capital said the debt crisis in Europe has not been fixed and will be a drag on world economies including China and limit commodities demand. Crouch sees a systemic retracing of the risk-asset complex and commodities falling.

Mark Pervan et al at Australia & NZ Banking expect global demand for copper will rise 4.7 percent in 2013, driven primarily by a rise in Chinese consumption.

John Kinsey at Caldwell Investment Mgmt said 2013 expects higher copper prices in 2013 as the larger economies are improving, and interest in commodities is rising.

Read the full article at http://www.bloomberg.com/news/2013-02-10/hedge-funds-fourth-bullish-week-boosts-copper-bets-commodities.html

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