CHINESE INVENTORIES

COPPER CORRECTING BRIEFLY

Copper has fallen more than most commodities during the recent sell off in commodities in general. And what is so interesting is that a spokesman for the Chilean state owned copper mining company Codelco commented on 7 August (price on chart highlighted 5 August) that "Chinese imventories seem to have decreased and now the industry is catching up again" and a Chinese metals traded asserted that demand in China would see to it that the price of the metal would gain 8 per cent by year end.