Copper May Rise Next Week as China Imports Gain, Survey Says
By Chanyaporn Chanjaroen
March 23 (Bloomberg) -- Copper may gain next week after China, the world's largest consumer of the metal used in wires and pipes, increased imports.
Eight of 18 people surveyed yesterday and March 21 forecast copper will rise next week. Seven expected a decline and three were neutral. Copper for delivery in three months on the London Metal Exchange has gained 2.4 percent this week. The contract has risen 29 percent this year.
China more than doubled imports in February from a year ago to 152,651 metric tons, the Beijing-based customs office said yesterday. That's the highest since May 2005, according to Bloomberg data.
This week's survey results:
Bullish: 8 Bearish: 7 Neutral: 3
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