Copper Heads for Longest Slump in 27 Years on Factory Outlook – Bloomberg 02-03-14

Salient to Investors:

Copper is heading for the longest losing streak since at least April 1986 on signs of weakening demand.

Bill O’Neill at Logic Advisors said the supply demand equation is still leaning to the bearish side.

Goldman Sachs said global supply will exceed demand by 385,000 tons this year, after a 45,000 ton surplus in 2013, and prices will grind lower.

Kazuhiko Saito at Fujitomi said China’s week-long holiday has made things worse for copper by reducing liquidity, so we may see copper test $7,000 before the Chinese return later this week. 

Read the full article at http://www.bloomberg.com/news/2014-02-04/copper-heads-for-longest-slump-in-27-years-on-factory-outlook.html

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