Price of metals, gold, oil 2011 copper will rise ; Copper rose to a record high at $9,357.75 a tonne on Tuesday as supply concerns hit the market after Chile's Collahuasi mine halted shipments, with a falling dollar also supporting prices. Benchmark copper for three-month deliver on the London Metal Exchange traded at $9,354 a tonne in rings from $9,201 at the close on Monday. Copper prices has gained 27 percent in 2010.
Record high prices of copper are driven by growing demand, devaluation of dollar and copper mining companies this year, fall short of demand estimated at about 20 million tonnes this year.
Nickel prices advanced 0.6 per cent to $24,700 per tonne at the London Metal Exchange. Nickel metals strengthened on optimism over the economic recovery in the world and in the U.S. boosted the demand outlook for the metals.
The U.S. Fed Reserve’s move to further pump in more dollars into the market and the European crisis will ensure that metal prices to go up in 2011 .
As inflation fears rose to a record high in China, India and EU the price of metals, gold, oil , copper will rise. The investors will continue to buy safe assets.
AlbanianMinerals MrMuja President & CEO said “We are positive on growing metal prices. The price of metals should continue to be supported by demand driven by a huge investment's in China, India, Brazil , Russia, Qatar, Turkey and Saudi Arabia in infrastructure sector.
The inventories copper, aluminum, chrome ore, nickel , ferrochrome and iron ore are at the lowe's level this year. Metal prices will rise sharply in 2011 do to the growing demand and higher energy costs. Stockpiles of copper monitored by the exchange have declined 30 percent this year to 355,750 tons, the lowest level
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