Barclays Capital (NYSE: BCS) Copper Prices

Barclays Capital Copper Prices

Barclays Capital (NYSE: BCS), the investment are of Barclays PLC, is high on copper prices for 2010, saying they see them going as high as $8,000 a ton in just the first half of 2010.

This is quite a change from projected prices of about $6,875 a ton for 2010, $7,000 a ton in 2011, and up to $8,500 in 2012.

The problem I have with these numbers is I think they are being offered on the assumption we are in an actual economic recovery, when in fact we aren't, as data from all over indicate.

With China cutting back significantly on copper imports this year, it does make you wonder where this demand is going to come from, with some throwing out it will be from Economic Cooperation and Development (OECD) countries.

One possible event that could make this happen is the hoarding of copper in anticipation of potential future shortage which would in fact drive up prices significantly for those countries without copper reserves set aside like China has.

Barclays Capital (NYSE: BCS) Copper Prices