People have probably overstated the amount of new supply that is coming on stream. We don't feel that the increase in copper supply in 2006 will be sufficient to derail the bull market. |
The bottom line, for the first six months of 2005, is that all the base metals are under-supplied. So, base metals' prices have been staying stronger for longer than expected. |
There are very few sellers in the market -- the funds are driving it. |