It is reported that International copper prices which have taken a pummeling this week, may have touched rock bottom

Mr Diego Hernandez CEO of Codelco said "You get the feeling it's hitting bottom the supply and demand equation still remains tight."

He added that "We're optimistic about copper in the medium-to-long term and even if copper prices see a lot of volatility over the short term.”

On the back of intensifying fears about sluggish US growth and Europe ongoing debt troubles, three-month copper on the London Metal Exchange dropped 7.3% to USD 7,115.75 a metric ton, its lowest level in 13 months, before paring back some of its losses on Friday. Copper ended 4.1% lower on the day at USD 7,355 a ton.

(Sourced from MarketWatch)