Near-Term Copper Price Direction Remains Inscrutable as Uncertainties Abound Photo by Alfred T. Palmer/Getty Images

Near-Term Copper Price Direction Remains Inscrutable as Uncertainties Abound

Those fundamentals might be enough to justify a rising price. Indeed, there are analysts forecasting a shift from the surplus seen today to a significant deficit by 2018 and prices in the $4 range. But some copper analysts are beginning to question whether fundamentals are relevant at all to pricing right now. Other factors may be more influential and their impact is inscrutable.

Factors ranging from slowness in the Chinese economy to concerns about the potential impact of a Greek debt default have kept copper pricing low from the start of the year and many analysts are forecasting continued softness through the rest of the year.

Since hitting a peak in spring 2011 at around $4.60 per pound, the trend has been generally downward. Prices hit a fresh three-month low this week at $2.6155 per pound after reports that stimulus measures in China would be ins

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