Freeport-McMoRan: Street waking up to copper
Over the weekend, Barrons published an article of the current state of the copper markets. Nothing new in this Barrons article but a reminder of how quickly sentiment to copper is changing and at a...
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Look East to copper
Chinese copper prices are up 16% from lows, reflecting a combination of incredibly low inventory, improving demand in China (and US) and Chinese targeting of infrastructure (especially Rail) and social...
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COPPER escalating deficits starting to move the needle
We are warming up to copper with Chinese copper prices +14% from March lows (CCSMCUG1 Index). One statistic worth bearing in mind is this: Global copper stocks are the lowest levels since July 2009....
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Chinese Copper consumption at all time highs
According to Aviate Asia, Chinese apparent copper consumption (production + net imports – change in inventories) reached an all time high in April, despite a tightening bias in off balance sheet and...
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Copper consumption at all time highs – BUY Jiangxi
Jiangxi Copper (358 HK) has some of the best leverage to the copper price globally given its low cost assets. With a strong balance sheet and having raised their indicated payout ratio at their last...
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Trader Watch: Copper
Our traders have pointed out the big break in copper above the 200 day MA. They also highlighted this chart:
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Dr. Copper – update – cont. contract weekly – 1 year breakdown out of...
Copper still on track to 270. I am going to pay close attention at the “how” we get there in terms of volume and momentum. A positive divergence in the 280-270 area could be constructive for s/t...
View ArticleCopper: Time to add copper exposure?
Up until the beginning of May the Cu price had fallen ~14%, but in the last month has bounced back almost 10% on supply concerns with the Grasberg mine collapse in May taking out 140k tns of production...
View ArticlePrivate Equity buying Copper?
Fascinating to see Private Equity potentially buying into Copper assets (Carlyle Group bidding for Rio Tinto’s 80% stake in the Northparkes copper mine). Given their preoccupation for cash flow and...
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Keeping a bearish view on Copper – Weekly MACD bearish AND LME Inventories...
We need to see these two elements to change direction to see a bottom in copper.
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Contrarian…
It was Goldman’s “super-spike in Oil” thesis that called the top in Oil. They had a huge push on Copper just prior to the plunge. They were long-term-bullish Gold, (until changing tactically for a puke...
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Miners, remain cautious
Global copper inventories have made new multi-year highs, lowering the marginal demand from re-stocking. Copper prices are back to levels last seen in August (despite a large sell-side push). Aluminium...
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Global Copper Inventories, multi-year highs. Little demand left from re-stocking
We remain cautious on the Miners for now.
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Miners (cont): Copper inventory, and Structural concerns for Coke
Asian copper inventories have never been this high in February: Sure, they could move higher, but if more tightening comes, it is not likely. Met coal concerns. Also, in what could be a damming...
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