# WTF happened to copper prices today?



## kransky (29 November 2007)

https://www.aussiestockforums.com/forums/attachment.php?attachmentid=15490&stc=1&d=1196256808

scared the cr@p out of me when i checked it a few minutes ago... $3 to $2 in an instant.. but its recovered..

pheuw!


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## wayneL (29 November 2007)

It'd just be a dirty tick. It ain't nuttin'.


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## kransky (29 November 2007)

well you can imagine the apocalyptic thoughts i had when i saw copper down 33% on kitco... i did a double take then a triple take then read it again slowly and then thought "FFFAAAARRRKKK"

but yeah.. she's all good.. crazy US shoppers and a hint at another fed rate cut have settled some of the nerves


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## bvbfan (29 November 2007)

I think there is a 10% limit down (or up) on LME, was triggered last year I thought during the correction in May


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## BREND (2 December 2007)

My model is calling for buy signal on copper. Bought into comex copper on Friday. Do watch out for this metal..


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## Temjin (2 December 2007)

Or maybe it is just a date error from their side?


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## rederob (2 December 2007)

BREND said:


> My model is calling for buy signal on copper. Bought into comex copper on Friday. Do watch out for this metal..



BREND
LME cancellations up.
Shanghai inventories down.
Strikes going well in South America, and occasional earthquakes causing some issues as well.
US Comex inventories flat and historically low, despite housing downturn.
The ingredients for further increases to copper's price are certainly in place for a near term boost.


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## ithatheekret (6 December 2007)

Most falls in futures have been related to end of year squaring and compulsory selling for funds ..... liquidity , demand has not disappeared .


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## ithatheekret (6 December 2007)

PS... I was looking through most commodity charts , but after the copper chart , I pulled up Cocoa and it looks like it's forming a cup , with hopefully a continuation through with a handle  , but seriously , I think it's definitely on the rebound .


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