Normal
Looks like we've got a little bit of time to get into copper before the inevitable supply demand crunch. Unless the World boils over in the next couple of years, as per Bas' predictions.[ATTACH=full]164525[/ATTACH]US Treasury yields rose to multiyear highs last week, and the latest earnings reports show borrowing costs are wreaking havoc globally. A renewed bout of volatility in the bond market impacted stock trading on Monday, with the S&P 500 Index swinging between gains and losses after briefly breaching its key 4200 mark.Tempering expectationsTesla – a barometer for copper use in an electric-vehicle sector that has been white-hot up to now – is dialling back growth expectations as years of rapid expansion collide with rising interest rates and a more cost-conscious consumer. Shares in solar manufacturers also plunged last week after US-based SolarEdge Technologies warned of cancelled and delayed orders.And in China’s heavily indebted property market, Evergrande Group lurched closer to an October 30 court hearing of a petition to wind up the company, which may lay bare the once-unthinkable possibility of liquidating its assets.At Country Garden Holdings, creditors are preparing for potential debt restructuring after the distressed Chinese developer missed a dollar bond interest payment.Copper prices traded little changed at $US7986.50 a tonne as of 5.34pm in London (3.34am AEDT), showing a year-to-date loss of 4.6 per cent. Other metals were mostly lower.
Looks like we've got a little bit of time to get into copper before the inevitable supply demand crunch. Unless the World boils over in the next couple of years, as per Bas' predictions.
[ATTACH=full]164525[/ATTACH]
US Treasury yields rose to multiyear highs last week, and the latest earnings reports show borrowing costs are wreaking havoc globally. A renewed bout of volatility in the bond market impacted stock trading on Monday, with the S&P 500 Index swinging between gains and losses after briefly breaching its key 4200 mark.
Tesla – a barometer for copper use in an electric-vehicle sector that has been white-hot up to now – is dialling back growth expectations as years of rapid expansion collide with rising interest rates and a more cost-conscious consumer. Shares in solar manufacturers also plunged last week after US-based SolarEdge Technologies warned of cancelled and delayed orders.
And in China’s heavily indebted property market, Evergrande Group lurched closer to an October 30 court hearing of a petition to wind up the company, which may lay bare the once-unthinkable possibility of liquidating its assets.
At Country Garden Holdings, creditors are preparing for potential debt restructuring after the distressed Chinese developer missed a dollar bond interest payment.
Copper prices traded little changed at $US7986.50 a tonne as of 5.34pm in London (3.34am AEDT), showing a year-to-date loss of 4.6 per cent. Other metals were mostly lower.
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