Lower copper concentrate output this year coupled with anticipation of rising demand in the electronics and information technology sector, will provide copper the much-needed support, analysts and market participants said. Mitsubishi Corp., Japan's leading trading company, projects the LME three-month copper to average 1,700 US dollars/ton in 2002 and that prices will hit 1,750 US dollars/ton in the second half. LME three-month copper averaged 1,587 US dollars/ton last year. UBS's Lawcock is more bullish, projecting the LME copper cash price to hit 1,795 US dollar/ton by year-end, while CBA's Thurtell gives forecasts copper's cash, price to hit 1,700 US dollars/ton. Lawcock's greater optimism in copper is based on the metal's new supply.
NSTL
