The price of copper ingot hits a new high in 2006

The copper ingot price has updated the highest ever also 2006. Since the speculation fund is flowing in against the shortage of supply. However, it keeps pace with the price jump of zinc, aluminum and gold now. Meanwhile, the copper stock at London Metal Exchange (LME), which had been in the historical low level, recovered the level of 100,000 tonnes for the first time in 15 months since October 2004. Is this a sign of the supply and demand easing? The stock transition in the future is paid to attention.The factor of the sudden rise of copper ingot price is the shortage of bare metal.The production increase plan scheduled in Thailand and India, etc. is delayed while the rapid demand expansion that centers on China, and the supply is insufficient. This is a purchase reason by speculators.If you see the transition of the stock at Exchange, the stringency of supply and demand is obvious. There are more than 600,000 tonnes of copper ingot stock at LME in 2003 temporarily. It decreased to the level of 400,000 tonnes at the end of 2003. It fell below 100,000 tonnes in October, 2004. The reduction in stock continued also 2005.It fell down to 25,000 tonnes in the end of last July and it pushed up the copper ingot price to the highest value in the past. After that, LME stock recovered to the level of 90,000 tonnes at the end of last year. However, the copper price updates the highest value in the past of every day. The reason is in an extremely low stock level.The fact that the stock is a low level doesn’t change though 100,000 tons were recovered after an interval of 15 months on 9th this month.However, it is also true that the symptom of the supply and demand easing is seen in part. The stock of an Asian region such as Singapore and Pusan increases rapidly. Especially, Pusan has increased up to 55,000 tonnes now from 950 tonnes in July last year. The stock increase in South Korea, which is the nearest country from China, becomes one proof that supply and demand is easing.