Normal
Recalibrating the trend in place since March 2020 to pick up the May 10th record high of $4.888/lb:[ATTACH=full]125295[/ATTACH]After a retrace copper has quickly bounced back.A fortnight ago Chinese warehouses added inventory while LME's shrank a touch. Last week that trend reversed. Given that Chinese producers have been holding back buying at high prices, and their warehouse inventories are declining, further price rises or at least strong prices, look like being the norm for the foreseeable future.
Recalibrating the trend in place since March 2020 to pick up the May 10th record high of $4.888/lb:
[ATTACH=full]125295[/ATTACH]
After a retrace copper has quickly bounced back.
A fortnight ago Chinese warehouses added inventory while LME's shrank a touch. Last week that trend reversed. Given that Chinese producers have been holding back buying at high prices, and their warehouse inventories are declining, further price rises or at least strong prices, look like being the norm for the foreseeable future.
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