Copper

[Sean K]

Any reports of China stimulus for copper? They're trying to stimulate consumer spending and property is trying to rally in a few areas. Also reports of reducing steel production (less iron ore).

Hard to know what's going on with China, or Trump, or anything. But, a 5% jump in price is quite large for copper.

 

[peter2]

Commentators trying to talk up FCX using charts.


"FCX can't keep on defying the rising copper price. "

FCX chart showing RSI divergence and double divergence using the MACD.



Mate. FCX price is down there for a reason. Has that reason been resolved?

 

[greggles]

Copper miners haven't caught up with the surging copper price, probably because it hasn't flowed through to earnings yet.

If you're a copper bull it's worth taking a look at the various US copper miner ETFs such as COPX, COPP and COPJ.

 

[divs4ever]

Also reports of reducing steel production (less iron ore).

i find that difficult to believe , a decrease in the increase ( say keep demand flat ) OK , that is possible

now more likely China will source more iron-ore ( and coking coal ) from 'friendly nations ( Mongolia , Russia , Brazil ) so they can trade more often outside the US Dollar

Commentators trying to talk up FCX using charts.

View attachment 194874
"FCX can't keep on defying the rising copper price. "

FCX chart showing RSI divergence and double divergence using the MACD.

View attachment 194875

Mate. FCX price is down there for a reason. Has that reason been resolved?

i don't follow Freeport , but don't they have sovereign risk/nationalization issues in a mine or two

i remember how Kingsgate got crushed by political decisions in a different domain

 

[divs4ever]

Also reports of reducing steel production (less iron ore).

i find that difficult to believe , a decrease in the increase ( say keep demand flat ) OK , that is possible

now more likely China will source more iron-ore ( and coking coal ) from 'friendly nations ( Mongolia , Russia , Brazil ) so they can trade more often outside the US Dollar

 

[Garpal Gumnut]

There is an interesting article in ABC Justin on mining companies woes with Queensland Rail in NW Queensland. Excessive freight charges are causing copper and phosphate mines to close.

High rail costs end phosphate mining dream in outback shires

Phosphate was touted as the outback's next big thing, but the high cost of accessing state-owned rail lines has left another mine in financial strife.

www.abc.net.au

gg

 

[mullokintyre]

There is an interesting article in ABC Justin on mining companies woes with Queensland Rail in NW Queensland. Excessive freight charges are causing copper and phosphate mines to close.

High rail costs end phosphate mining dream in outback shires

Phosphate was touted as the outback's next big thing, but the high cost of accessing state-owned rail lines has left another mine in financial strife.

www.abc.net.au

gg

It highlights the contentious problems around government ownership.
On the one hand, we need some enterprises and activities owned by the government, but on the other hand they can tend to be inefficient, especially where there is a monopoly.
Mick

 

[Dona Ferentes]

Cu is doing well... Au too

https://www.barrons.com/articles/copper-gold-price-tariffs-economy-1d061e3c

 

[Sean K]

Cu is doing well... Au too

https://www.barrons.com/articles/copper-gold-price-tariffs-economy-1d061e3c

Copper has done pretty well but the main copper plays have lagged behind. I think mostly because they produce other stuff and have been caught up in the general market correction.

Can I buy copper coins and add it to my stack?

I did have some 1 and 2c coins a while ago but they got lost in a removal.

 

[Sean K]

Approaching $5 but WIRE is in the dunny. How do I buy copper?

 

[Dona Ferentes]

Copper stocks rocket as traders push prices above $US10,000​

Copper stocks are rocketing on the ASX after the metal’s price climbed back above $US10,000 a tonne in London as traders rushed to ship the commodity into the US ahead of potential tariffs, intensifying concerns about a supply shortage.
The rally in the copper price has accelerated over the past week, sending ASX-listed miners soaring. Sandfire Resources and Mac Copper have jumped more than 10 per cent over the past seven days and Capstone Copper has surged 18 per cent.

Copper traded on the London Metal Exchange has jumped 14 per cent this year and reached $US10,046.50 a tonne on Thursday, the highest since October. That still lags the 27 per cent surge in copper futures in New York, which are hovering near record levels.
That huge disparity in prices has created a lucrative investment opportunity, prompting traders and producers to shift supplies to the US to capture premium prices before any tariffs are imposed on the metal.

Citi told clients it remains bullish on the so-called comex-LME copper arbitrage – a trading technique that involves buying and selling the same asset in different markets to profit from disparities in prices – as a strategy to capitalise on the macroeconomic outlook over the coming months.

 

[peter2]

Mac Copper have jumped more than 10 per cent over the past seven days and Capstone Copper has surged 18 per cent.

Adding some context to those numbers. MAC copper was down 27% before the bounce off the low.
CSC went down 33% before the bounce off the low. I know, as I'm holding both of them and they're still underwater.

Good to see A1M and AIS trying to go higher. Stop selling them and they'll go higher.

 

[frugal.rock]

A watchlist today.
There's a lot not on this one.
Don't forget every bull market has a copper ceiling.

 

[Dona Ferentes]

Adding some context to those numbers. MAC copper was down 27% before the bounce off the low.
CSC went down 33% before the bounce off the low. I know, as I'm holding both of them and they're still underwater.

Good to see A1M and AIS trying to go higher. Stop selling them and they'll go higher.

yeah, I dropped that story in ... in the Silver thread there was talking from every man, dog, Hunt brother and pet parrot commenting about that metal, and it seems Copper is getting the same Uber driver/ elevator boy treatment, with the price pushing through some level or whateva

Copper stocks rocket as traders push prices above $US10,000

The industrial metal reached its highest level since October as traders scrambled to prepare for potential tariffs, lighting a fire under the ASX’s copper producers.

www.afr.com

 

[Dona Ferentes]

but BHP went nowhere

 

[Smurf1976]

it seems Copper is getting the same Uber driver/ elevator boy treatment

Sure is.

A friend who otherwise has no real interest in the stock market or other investment beyond a superannuation fund and index ETF's recently asked me what I thought about copper.

Their work is in the building trades or more specifically demolition.

 

[Sean K]

Sure is.

A friend who otherwise has no real interest in the stock market or other investment beyond a superannuation fund and index ETF's recently asked me what I thought about copper.

Their work is in the building trades or more specifically demolition.

Time to start selling.

 

[Captain_Chaza]

Time to start selling.

I dare you?

 

[Sean K]

I dare you?
View attachment 195848

I think we have fair winds for a while yet, Capt.

I'll wait for my cleaning lady to ask me about copper before I sell.

 

[Sean K]

Not a bad summary of copper stocks on the ASX to consider.

BHP, RIO, SFR or small caps? Which are the best ASX copper stocks to buy as Dr. Copper soars?

The Doc is back! Copper prices are again on the rise and so too are the prices of ASX copper stocks. So, which are the best to watch?

www.livewiremarkets.com