Copper Prices: Shanghai Supportive?

Good piece my Matt Whittaker in today’s Journal, taking a look at the recent rise of Dr. Copper.

Good piece my Matt Whittaker in today’s Journal, taking a look at the recent rise of Dr. Copper.

Copper rose to record highs close to $10,000 a tonne after economic data showed recovery in the US could push up demand amid supply shortages, which could be made worse by giant Cyclone Yasi in Australia …

Australia’s huge Cyclone Yasi forced a copper refinery and coal mines to shut and paralyzed sugar and coal exports as it began pounding the northeast coast on Wednesday, threatening to further inflate world sugar, copper and coal prices.

Bullish chart patterns, firm fundamentals underpin base metal.

Stocks rose, sending Europe’s benchmark index to the highest level since before Lehman Brothers Holdings Inc.’s bankruptcy, amid speculation the economy can withstand the region’s government-debt crisis. The euro weakened, while copper, gold and sugar advanced.

European stocks rose, erasing losses since Lehman Brothers Holdings Inc.’s collapse, on speculation the economy can withstand the region’s sovereign-debt crisis. U.S.

Royal Bank of Scotland Group Plc, Britain’s biggest government-owned bank, may offer cash bonuses to investment bankers for the first time since its 2008 bailout, according to a person with knowledge of the plans.

A recent pullback in Freeport-McMoRan Copper & Gold shares may be just what the doctor ordered.

Copper, sugar and rubber futures slumped their daily limit in China, with copper set for its biggest four-day slide since 2008, on speculation the government will take steps to cool inflation, damping commodity demand.

Investors should be “long” commodities, including crude oil, copper, corn, sugar and palladium, as holdings will return 17 percent over the next 12 months, JPMorgan Chase & Co. said in a report.