Big downside risk to copper price

We feel there could be greater downside risk to the copper price in the short term. The quieter Q3 period coupled with continuing fears over euro zone debt levels and the slower than anticipated recovery in the US might see prices dip below $6 000 t. But copper s convincing medium term prospects should underpin prices moving into Q4. Short term LME three month copper price: $6 050 t $6 750 t.