News Update: BHP Billiton Limited: Physical Copper in Demand (BHP)

"Officials from BHP Billiton Limited (NYSE:BHP) said Wednesday that physical copper demand is high and is pushed by consumers looking to replenish inventories, reports Bloomberg.

The company commented in a statement, ""There is strong physical demand for some commodities such as copper where consumers are restocking and premiums continue to rise, There is weaker demand for those commodities where short-term demand is likely to be satisfied by inventory rather than primary supply.""

Copper has gained up to 0.9% to $7,200 per metric ton in London recently.

SmarTrend alerted subscribers to take profits in BHP Billiton on August 17, 2010 at $70.38, since then the stock fell 7%.

We are now watching for any positive developments that could result in a new uptrend signal."

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