Reuters reported that copper prices should remain stable, trading in the range of USD 8,500 per tonne to USD 9,500 per tonne during the next 6 months. Mr Herbert Wirth CEO of KGHM said that "Looking at the turbulence on the international financial and commodity markets, I nevertheless expect that for at least the next six months copper prices will not fall below USD 8,500 per tonne. I expect it to trade in the range USD 8,500 per tonne to USD 9,500 per tonne. I can add that there is plenty of free capital that is locked in commodities and this should stabilize the prices in mid term." Earlier this week, the state controlled miner in its 2011 forecast update raised its full year average copper price estimate by a tenth to USD 9,000 per tonne which helped KGHM boost its net profit target by 16% to a record USD 3.2 billion. Three month copper on the London Metal Exchange drifted down 0.2% to USD 9,071.25 per tonne tracking a downturn in Asian equities and the euro as worries about the euro zone debt crisis and faltering US economy undermine confidence.

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