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Updated Friday, March 12, 2010 10:47 am TWN, Bloomberg

Copper may advance to record on China: Sucden

LONDON -- Copper may rise to a record this year, possibly surpassing US$9,000 a metric ton, driven by larger- than-expected imports by China and a revival of demand in Europe and the U.S., according to Sucden Financial Ltd. Chinese demand will be “positive” for the metal used in construction and the country may import an average of 200,000 metric tons a month, said Jeremy Goldwyn, who oversees business development in Asia for London-based Sucden.

Copper peaked at US$8,940 a ton in July 2008, two months before the collapse of Lehman Brothers Holdings Inc. helped to push the global economy into recession.

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