Released on = May 31, 2007, 4:24 am

Press Release Author = Shushmul Maheshwari

Industry = Industrial

Press Release Summary = Copper futures recorded steepest fall during February to
April 2007, thanks to signs of weakening copper demand from China. Moreover, heated
copper prices had already resulted in a decline in Chinese demand in 2006.

Press Release Body = A recent report “China Non-ferrous Industry
Analysis” has found that the copper demand in China slumped last year (2006),
primarily due to heated prices. Despite a probable moderate fall in the demand
growth rate in 2007, the copper demand of China will continue to rise, as the nation
will continue to march towards urbanization and industrialization.

The copper futures in New York descended the most during February 2007 to April 2007
on indications that metal demand may decline in China, the largest user of copper in
the world.

Stockpiles in Shanghai Futures Exchange warehouses have grown more than double in
2007. This is the highest stockpile since December 2005, signifying that China may
pick less copper from the overseas market.

For July 2007, copper futures delivery dropped by 11.25 cents (3.1%) to $3.5665 per
pound on the Comex division of the New York Mercantile Exchange. The fall was the
steepest since February 2, 2007 when the most active futures came 4.3% down because
of tumult in worldwide equity markets.

“A large reason you\'ve seen copper pullback is because China has slowed down a
little bit in their buying”, said Kevin Kerr, President, Kerr Trading
International, Wilton, Connecticut, in a statement reported by Bloomberg on May 10,
2007.

Imports by China are expected to decline after the top consumer of the world shipped
in record volumes in 2007. The imports of refined copper by China are projected to
have tumbled by around 40% from 2005 to approx 800,000 Tons in 2006, said the State
Development Planning Commission, China\'s top planner.

According to the RNCOS report “China Non-ferrous Industry Analysis”,
copper demand in the China is expected to dive by around 6.3% on year on year basis
reaching about 3.38 Million Tons in 2006 end as against about 3.59 Million Tons in
2005. Although the copper consumption in China showed a downtrend during 2006 but as
compared to other chief copper consuming nations, Chinese copper demand remains to
be in the center of the market concern.

The market research report presents a comprehensive overview of copper mine
production, demand-supply status, and exports and imports scenario in the Chinese
non-ferrous industry. It also highlights the driving forces, opportunities,
challenges, and future prognosis of the market. The report gives a prudent analysis
on the price trends in major non-ferrous metals alongwith the outlook on the key
market players.

About RNCOS E-Services Pvt Ltd.:

RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of
industry experts who analyze data collected from credible sources. They provide
industry insights and analysis that helps corporations to take timely and accurate
business decision in today\'s globally competitive environment.

For more information visit: http://www.rncos.com/Report/IM507.htm
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