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Aluminium may prove a better investment than copper, says CRU- the commodities research specialists, also adding that China may no longer be the driver of commodity prices like it has once been

05 Oct 2011

NEW YORK (Commodity Online): Aluminium may prove a better investment than copper, says CRU- the commodities research specialists, also adding that China may no longer be the driver of commodity prices like it has once been.

"China funded our recovery in the commodity world ... China has been the commodity story. We don't believe it can step in and give the commodity markets the recovery it saw in 2008 ... (China is) overall positive but not fantastically positive ...Chinese growth rates remain healthy but at lower rates”, says Paul Robinson, Group Manager of Non Ferrous Metals at CRU

"We don't see China building stockpiles of copper like they did in 2008 and 2009," he added saying that Chinese stockpiling had boosted copper prices for a long time. Copper consumption is threatened by three factors- declining Chinese consumption, aluminium substitution and mine constraints.

Robinson believes that Aluminium has the strongest growth prospect given that both beverage and transportation sectors are strong. "Aluminium is both a nation-building metal and emerging middle class metal”

 


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