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Copper

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Commentators trying to talk up FCX using charts.

fcx0.PNG
"FCX can't keep on defying the rising copper price. "

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

fcx00.PNG

Mate. FCX price is down there for a reason. Has that reason been resolved?
 
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.
 
peter2 said:
Also reports of reducing steel production (less iron ore).
Click to expand...
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
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
 
peter2 said:
Also reports of reducing steel production (less iron ore).
Click to expand...
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
 
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.

End of the line for outback phosphate mine boom as rail costs bite

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
 

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.
 
Dona Ferentes said:
Mac Copper have jumped more than 10 per cent over the past seven days and Capstone Copper has surged 18 per cent.
Click to expand...

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 said:
it seems Copper is getting the same Uber driver/ elevator boy treatment
Click to expand...
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.
 
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