Wt Copper Discussion Threads

[fridgebunny] 22/12/2021 15:23

Chile's new Left-wing leader fuels fears of disruption to global copper supplies

35-year-old president-elect Gabriel Boris has vowed to put a stop to new mines in Chile

[fridgebunny] 19/10/2021 15:05

Copper price surges through $11,000 on supply squeeze



Fears of supply disruption also supported the market, as a Peruvian community promised to block a key mining road used by MMG’s Las Bambas copper mine in protest after failed negotiations with the Andean nation’s government.

[fridgebunny] 04/8/2021 19:48

Interesting what approach the new Marxist leader of Peru will take to private copper mining in the country!

Any nationalisation or government appropriation should lead to a big jump in the price of copper!

[milesy] 20/5/2021 12:51

All this infrastructure spending govts are embarking on is going to drive demand for a slew of industrial metals like copper.

[fridgebunny] 20/5/2021 11:09

Yes, just done so!

[shavian] 26/2/2021 09:21

Yes, me. I hold both COPA and more recently LCOP, thankfully.

[milesy] 25/2/2021 15:18

Anyone invested in this Copper ETF?

[k mon] 08/11/2016 15:31

Could be an interesting play for a recovery this one
- If Copper is bottoming out. :0)

[spob] 17/8/2013 01:57

August 15, 2013 6:31 pm
Demand surges for copper in China

By Jack Farchy

FT

One of the most closely watched indicators of the strength of the Chinese copper market has risen to the highest level on record, in a further sign that the country's industrial economy is outperforming gloomy expectations.

Chinese copper premiums – that is, the cost of physical copper over and above the benchmark futures prices – have more than tripled since the start of the year to a high of more than $200 a tonne, traders said.

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The rise in premiums, which are closely tracked by traders and analysts as an indicator of the strength of the physical market, reflects surprisingly robust demand in China, traders say, though it has also been underpinned by a variety of other factors.

"Everybody got themselves a little bit over-bearish," said one senior metals trader. "There is an increasing chance we are underestimating Chinese copper consumption."

The rise in copper premiums will reinforce the recent shift in sentiment towards China, about which the western investor community had become deeply pessimistic over the summer. A raft of data on Chinese trade, industrial production, and investment came in stronger-than-expected in July, with the country's copper imports hitting a 14-month high and iron ore imports at a record level.

China is the main driver of global metals demand, accounting for two-fifths of global consumption. The shift in sentiment has triggered a rally in metals prices and mining shares in the past week, with copper prices, which had slid 20 per cent since February, rallying 8.7 per cent in the past fortnight.

Copper premiums are agreed in private deals between traders, meaning there is debate about the true level of the market and historical data are patchy.

However, traders said premiums in China were the highest they could remember, comparable only with a spike in early 2009 as the country's purchases soared. According to data from Macquarie, an investment bank specialising in natural resources, the premiums are the highest since at least 2000, when China accounted for only 12 per cent of global copper demand.

Although the strength in copper demand is not as striking as the stellar levels of 2009-2010, traders say it has combined with production problems at smelters and bottlenecks at warehouses to tighten the market significantly.

Inventories of copper at Shanghai's port have almost halved since February, and exchange stocks at all three major global copper exchanges have fallen in the past two months.

Premiums have further been boosted by several technical factors. Queues to withdraw copper from LME warehouses in Malaysia have increased the value of available physical metal, while new regulations from Beijing clamping down on the use of copper to obtain credit has led some traders to boost imports.

[notanewmember2] 11/9/2011 19:45

1 kilo copper bullion bars are selling on ebay for £10-30

Spot price



Link to chart- you'll need to play with it

[tong chai] 01/3/2011 16:16

does any one have experience of how well this tracks?
I know theres contango + future rollover etc

but from the buy and hold perspective it looks like it's been good so far

[spob] 11/1/2010 10:20

.




1 year

[praipus] 14/10/2008 18:31

My pleasure Sat. Bull flag on the intraday for SCOP.

[sat69] 14/10/2008 18:20

Thanks for this - I've added to the ETF thread.

[praipus] 14/10/2008 18:19

Long Copper



Short Copper

[praipus] 14/10/2008 18:16

Julian Robertson on www.cnbc.com thinks shorting copper is a good thing.



The ETFS for shortinf copper is SCOP.

Anyone else watching tempted of dabbling? Or put off by the couterparty risk?

[mustyair] 23/2/2008 12:56

Another ETF
Break out of range this time?