I realize that the China "news" of slow down has hurt Copper and CUU's price this week but with USA gaining strength Copper may not stall at these prices.
Article: http://www.businessweek.com/news/2012-03-16/copper-pares-weekly-gain-on-rising-china-stockpiles
Copper headed for a weekly gain in New York on speculation demand will increase as the economy rebounds in the U.S., the world’s second-biggest consumer of the metal.
A report today may show U.S. factory output rose, according to economists surveyed by Bloomberg News. Retail sales in the country climbed the most in five months and manufacturing strengthened in the New York and Philadelphia regions, figures showed this week. Concern that copper supply may fail to meet demand also has helped to lift prices this year.
Copper stockpiles monitored by the LME are down 29 percent this year to the lowest level since July 2009.
Demand for refined metal will increase by 6.5 million tons by 2020, Rio Tinto Group (RIO) said.“
The global copper market thus remains extremely tight, which should lend support to the price,” Daniel Briesemann, an analyst at Commerzbank AG in Frankfurt
