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Bank of America-Merrill Lynch is expecting that the world ex-China has potential for copper demand growth too. As a result, it revised up its copper price forecast for 2010 to US$7,125/t. This represents a 1.8% increase compared to its earlier anticipation. Its forecast for the current year is revised up by 5.6% to US$5,137/t.

"Despite growing concerns about an economic slowdown in the most populous nation, demand for new automobiles continues to be driven by rising vehicle ownership in tier 2 and 3 cities, especially for CUVs, which are advancing by 40% per annum. Luxury models also continue to outperform alongside rising wealth and as households shift their purchases from a weakening real estate market. "

"The US regulatory authorities should stop treating copper as bullion and instead subject it to the same size limits and reporting requirements that apply to other base metals, a US Senate subcommittee said in a report. "