I'm rapidly losing faith in the reliability of forecasting. There were numerous stories a couple of years ago about how the world would be suffering a major shortfall of copper right about now. Then more supply came on stream (I guess none of the analysts saw the potential for that???) and it's not an issue at all now.

Perhaps the diminished growth in China has had an impact in demand forecasts.

Either way, I'm bullish about the long-term need for copper as "third-world" countries continue to industrialize and, hopefully, the U.S. recovery continues and Europe rebounds.