Red Kite Management’s Hobart says that Copper prices need to fall 20%

February 18th, 2011
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London copper traded lower yesterday, dropping below $9,900 a tonne, which is $300 below the record high it recently posted. According to Reuters, Red Kite Management’s Scott Hobart said at a conference yesterday that he believes that copper prices will need to fall further, down to the 7,500 - $8,000 range. Hobart believes that China is starting to restock their reserves, but that the large stockpiles in the market will continue to grow.
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Red Kite Management
Related People: David Lilley; Michael Farmer; Oskar Lewnowski III
Related Entities: Cargill Industries*; Red Kite Australia Pty Ltd.; RK Capital Management LLC: MG PLC*; HFZ Capital Management Ltd.
Related Article Tags: Investment Management, Fund Manager and General Financial News

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