Commodity Trade Mantra

Posts Tagged ‘Copper Stocks’

Citi and Goldman are Highly Bullish on Copper

With workers at the world’s largest mine, Escondida, set to begin a strike, and with a new Grasberg export permit yet to be granted after the prior permit expired almost a month ago (January 11), downside risks to supply appear increasingly likely to materialise and translate into copper production losses. With exchange copper stocks already very low, physical tightness could lead to price spikes.

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?

Commodity Financed Shadow Banking in China

A commodity financed deal requires an offshore bank to issue a letter of credit against physical commodity stocks either in transit or held in bonded warehouses, which can be cashed onshore into local currency, which is then invested for a significant yield pick-up over the cost of owning the commodity

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