Copper

Thanks @Smurf1976 some good info on that site.

Couple of charts that were of interest, with Chile having the reserves and I am assuming still struggling with COVID so another interesting / important link with China and Australia.

2018 free info below, but I assume still is pretty accurate.

Now that I am looking at copper it is amazing what your see.....it's like buying a car then all of a sudden that model is everywhere

Some really good info below from https://twitter.com/stokdog

Something to note about copped is that it's commonly contained along with other metals in the same ore. It's not like iron ore or coal which are mined as single commodities.

For example Olympic Dam (in SA, operated by BHP) ore contains copper, gold, silver and uranium.

Rosebery mine (in Tasmania, operated by MMG) ore contains zinc, lead, copper, silver and gold. The sulfur content of this ore also has some value.

Etc. So the economics of mining copper are tied to that of other minerals associated with it also.

The POC
Monthly bars chart.



Weekly bars chart.



45 year chart courtesy of macrotrends.net Copper Prices - 45 Year Historical Chart
@Joe Blow can you fix the chart above for me? Cheers

Smurf1976 said:

Something to note about copped is that it's commonly contained along with other metals in the same ore. It's not like iron ore or coal which are mined as single commodities.

For example Olympic Dam (in SA, operated by BHP) ore contains copper, gold, silver and uranium.

Rosebery mine (in Tasmania, operated by MMG) ore contains zinc, lead, copper, silver and gold. The sulfur content of this ore also has some value.

Etc. So the economics of mining copper are tied to that of other minerals associated with it also.

Click to expand...

Just to add: i worked on copper mines in arizona which are just that: copper and just a little bit of other stuff, similar in Chile.
What @Smurf1976 says is right and extremely relevant in Australia, but not always true worldwide.
Not a criticism, but if interested in a copper mining play, do a sound homework.what do they actually mine, they could even have silver or gold mixed in

Well Copperheads everywhere must be cheering today, POC breaking to new highs.
Nearly stepped on a copperhead once, good thing it was earlish morning and it was sluggish... I jumped like a gazelle mid stride!

I believe I should start digging out my scrap copper collection and get stripping again.... insulation that is!
Have a air conditioner I picked up about a year ago, someone chucking it out.
It's an old school in wall jobbie, and has 2 copper cored exchangers... I'm guessing that maybe their worth around $100

Also have a bunch of old heavy duty HV mains cable, the stuff that has petroleum jelly and paper wrap as insulation and the outside sheath is lead...yeehaa.

Last trip to the scrappies was around late 2006, early 2007 and bright shiny wire was around $9.50 per kilo.
I remember driving past Lucas Heights nuclear reactor area and saw someone had dumped an old car radiator, mostly copper it was.
Got $40 in scrap for the U turn to jump out and pick that up.... I reckon a radiator like that is probably worth $300 as a spare part now though, after a recore that is.
Anyway, enough of me reliving the dream...
60 year chart


20year chart

Yeah,$US10,000/tonne coming up,just you wait.Won't be flattening out there,either.
Scrap dealers would have to be the scum of the earth.They'll rob you blind if you don't speak up for yourself.They'll call bright clean copper"mixed" if it has the slightest burn or solder on it.
By the way,I hardly go for copper and brass,anymore.Aluminium cans are the thing! only 10cents right? Hardly worth the effort? Aluminium will only get you $1 a kilo at the scrap metal yards but 250 crushed cans weighs 3.62 kg.That works out at....wait for it.....$6.88/kg. A 60 litre garbage binfull will get you $50

Whistling away cleaning up my copper in preparation... no rush though.



Can anyone name any ASX stocks that are producing or about to start producing copper ?
Or anything else to do with copper...

@frugal.rock Probably not comprehensive and only smallcap but a start and 2 years ago I just noticed

frugal.rock said:

Can anyone name any ASX stocks that are producing or about to start producing copper ?
Or anything else to do with copper...

Click to expand...

Been watching (and hold) Hot Chilli a junior who have gained access to a big resource. They have started producing from a Productora. Cortadera is the big baby and they have other neighbouring discoveries. @frugal.rock in answer to your question these are their words...
For those interested in copper mining stocks, Hot Chili merits attention. We are a leading copper developer on the Australian Stock Exchange (ASX: HCH), and we aim to be one of the top copper miners in Chile.

Junior Copper Miner Chile, Copper Mining Stocks — ASX: HCH

Hot Chili (ASX: HCH) is one of the top ASX copper miners with an advanced Chilean coastal range portfolio. Discover our copper mining stocks to buy & industry news.

www.hotchili.net.au

Thanks Gents.
@jbocker I did see The chili move today and wondered why.

Put together a little watchlist bases off that list thanks @debtfree , should have done this a while ago.
Most stocks moved up, RCP excepted as in a trade halt.
....C6C eh? Never heard of it...

@frugal.rock
On Listcorp

@Trav. provided a list of copper stocks, (many others as well) for Amibroker watchlists in the Amibroker Tips thread this year.

The files were zipped. Here is the list for non Amibroker users.

CE.AU
@CU
@CUAUD
AIS.AU
AIV.AU
AL8.AU
AMG.AU
AML.AU
AQD.AU
ARE.AU
ARV.AU
AVW.AU
AZY.AU
BHP.AU
BOC.AU
BYH.AU
C6C.AU
CAZ.AU
CCZ.AU
CHK.AU
CLA.AU
CML.AU
COD.AU
COY.AU
CRL.AU
CSE.AU
CVV.AU
CYM.AU
EM2.AU
ERL.AU
GBZ.AU
GXY.AU
HAV.AU
HCH.AU
HGO.AU
HMX.AU
ICG.AU
IGO.AU
KGL.AU
KMT.AU
LRS.AU
MAG.AU
MEP.AU
MLX.AU
NRX.AU
NST.AU
NWC.AU
ORN.AU
OZL.AU
PEX.AU
PKO.AU
PUA.AU
PXX.AU
RCP.AU
RIO.AU
RTG.AU
RVR.AU
SFR.AU
SLZ.AU
SPQ.AU
SVY.AU
SYR.AU
VIC.AU
VXR.AU
WSA.AU
XAM.AU

Thumping global growth expectations and tightening supply have elevated the price of copper to a nine-year high and lifted the Australian dollar above US79¢ for the first time in three years.
- Tomorrow's headline

Copper’s boom continued last week, iron ore picked up after the Lunar New Year break, oil fell, especially on Friday and gold again weakened despite rising (and silly) fears about inflation, especially in the US. Those fears saw US bond yields return to levels of a year ago close to 1.4% before settling back around 1.34% for the key 10-year bellwether US treasury bond.

The bullishness saw the Aussie dollar jump well past 78 US cents on Friday night to end the week around 78.78 US cents, up nearly 1.5% for the week. The currency looks like it is on its way to 70 US cents. Friday’s close was the highest since March, 2018.

Copper though grabbed the headlines as it surged to its highest in nearly a decade on Friday and its third straight weekly gain as tight supplies and positive sentiment towards base metals continued. The surge on Friday saw a gain of more than 4% in Comex copper futures prices alone a day after the Lunar New Year ended.

Benchmark copper on the London Metal Exchange (LME) added 2.3% to $US8,746 a tonne at one stage before sending at $US8,631 a tonne for three-month metal – a rise of more than 4% for the week. The Comex front month price settled at $US4.07 a pound, the highest it has been since September 2011. It ended after hours trading around $US4.09 a pound for a gain of more than 7% for the week.

The metal is up more than 56% since the start of 2020 and doubled in price since the lows around $US1.91 a pound in late March in the depths of the Covid sell-off. In London Markets, out month copper prices were trading around $US8,940 a tonne. A continuing supply and demand imbalance in the copper market has driven prices to these near 10-year highs.

On the supply side, the US Geological Survey (USGS) estimated global mine production of copper was 20 million tonnes in 2020, a drop of 2% compared to 2019. The top ten copper producing countries mined 15.920 million tonnes of copper last year, a 2.3% fall from 2019.

The USGS said five countries (China, DRC, Russia, Zambia and Kazakhstan) out of the top 10 increased copper output and the other five (Chile, Peru, USA, Australia and Mexico) saw declines. USGS said that global copper output declined over previous year primarily due to COVID-19 lockdowns in April and May. These disruptions significantly affected output in Peru, the second-ranked mine producer of copper, where production ... fell 12.5% in 2020.

A train has smashed into a flatbed truck near Picton on the Southern Highlands train line in NSW.
The truck was apparently stolen and the driver was nowhere to be found.
Insulated copper cable was found strewn nearby and it is believed the driver of the unauthorised vehicle was stealing it from nearby storages.
Was on 7 news but can't find anything on Google search yet....

And so it begins.
The first recent copper thieving incident from thieves taking advantage of high scrap prices.

Stay tuned for more idiotic adventures.
Occasionally, some of these idiots die from their misadventures.

I had posted some charts in another copper thread, but here's today's picture:

The record COMEX futures close was $4.6285 on 11 February 2011.
As you can see from the chart below, we are presently 3 cents above that, but maybe some profit taking will occur before the close:
https://www.tradingview.com/x/f8noCFPr/

Below is the same chart as above, but hourly until markets closed for the week. Once copper broke through the 2011 record high it just kept going, closing some 12 cents above it at $4.749.


The physical market was only a shade less buoyant:

The world’s top five largest copper mining companies by production in 2020​

1. Codelco – 1.73 million tonnes​

Founded in 1955 and nationalised in 1971, Santiago-headquartered Corporación Nacional del Cobre de Chile, also known as Codelco, is the world’s top copper mining company.

2. BHP – 1.72 million tonnes​

Anglo-Australian miner BHP ranks highly among the world’s largest copper mining companies, producing 1.72 million tonnes in its 2020 financial year (ending June 2020) – a 2% year-on-year increase.
In the 2020 calendar year, its copper production measured 1.68 million tonnes.
In partnership with Rio Tinto, BHP is seeking to advance the Resolution Copper project in Arizona, US, which is expected to yield around 18 million tonnes of copper over its planned lifetime.

3. Freeport-McMoRan – 1.45 million tonnes
Headquartered in Phoenix, Arizona, US miner Freeport-McMoRan produced 1.45 million tonnes of copper in 2020, a 1.3% year-on-year decline.
Its major mining interests include the Grasberg copper-gold deposit in Indonesia – the world’s biggest gold mine – and the Morenci mine in Arizona, which is one of the largest copper deposits in North America.
In total, the company operates seven open-pit copper mines in North America, as well as two molybdenum operations. It also has two copper mines in South America – Cerro Verde in Peru and El Abra in Chile.

4. Glencore – 1.26 million tonnes
Swiss-headquartered mining and commodity trading company Glencore produced 1.26 million tonnes of copper in 2020 – an 8% decline compared to the previous year.

5. Southern Copper – 1 million tonnes​

Founded in 1952 and currently a subsidiary of Grupo Mexico with headquarters in Mexico City, Southern Copper ranks fifth among the world’s largest copper mining companies.
In 2020, it produced just over one million tonnes of the metal, a slight increase on the previous year.