Commodity Trade Mantra

Posts Tagged ‘Copper Market’

Is Dr. Copper Getting Started on Another Decade-Long Bull Run?

Copper posted new 2017 highs yesterday, extending its breakout. It’s now sitting on year-to-date gains of almost 30%. Now Dr. Copper is back on the move – and we’ve already reserved our seats on the bandwagon. I don’t know if copper is just getting started on another decade-long bull run or if it’s just enjoying a short-term rally. Either way, we’re willing to ride the new trend to gains.

Big Trouble Ahead For Copper Is Good For Silver Prices

What kind of surpluses will the world experience when the copper finance trades go south on top of slowing global industrial demand? Why is this good for silver? As global base metal supply, especially copper, starts to decline, it will drastically impact global silver mine supply. Around 55% of world silver mine supply comes from copper, zinc and lead production.

Copper Prices Decline To Levels Below Cost of Production

There are various estimates for what the Marginal Cost of getting Copper out of the ground is before supply is taken offline completely. But it is reasonable to assume that Copper is currently being priced well below the long term Production Cost of Processing the Industrial Metal. The $2 Copper could well be setting up for an ample short covering rally before 2015 ends.

2014 Silver Mine Supply May Come In Less Than Estimated

The GFMS global map shows silver production remaining flat in China & Russia, with large declines in Australia, North America & Kazakhstan. GFMS shows large increases in Guatemala, Mexico, Peru & Chile. With Australia & Kazakhstan down considerably compared to last year, global silver production will come in less than GFMS forecasts.

The World Has Less Than 5 Days Worth Of Copper Inventories

Global copper inventories fell from 477,014 mt in Mar, to 355,075 mt in Apr. Why would global copper inventories be falling if production is increasing, demand falling & China with a supposed GLUT of copper inventories to work through? Why did Chinese copper imports increase 18.7% Jan-Jul? Does that make any sense whatsoever?

Copper Surplus ‘Underplayed’; But More Capacity Needed

Copper supply always seem to be an issue at the top of the agenda in metals markets, and 2014 is set to be no different, says Macquarie Commodities Research. 2016-2018 look like a strong recovery period for the copper market and copper price, with moves back towards, $8,000/t likely.

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