Bullish report by Rudolf Wolff

Copper prices in 1995 should “exceed the all-time high,” says metals trader Rudolf Wolff & Co. in its Winter Copper Outlook for 1995.

The president of Rudolf Wolff in North America, Mo Ahmadzadeh, says the volatile outlook for the red metal is a result of rapidly declining world inventories of copper and the doubling of copper prices during the past 18 months.

These trends, he says, will cause an increase in copper-production levels of refined and mined output.

Copper plays a bellwether role for industrial growth and, for some investment funds, has already provided an alternative to the lacklustre performance of bond portfolios.

According to Ahmadzadeh, copper will be the “pathfinder” for a new commodities boom in the late 1990s.