Copper Company?

[BFG]

Looks like the market is pinning hopes on a China stimulus situation as copper powers back above $2.50 p/lb.

http://www.bloomberg.com/news/articl...vity-contracts

[Schrodinger]

Looks like the market is pinning hopes on a China stimulus situation as copper powers back above $2.50 p/lb.

http://www.bloomberg.com/news/articl...vity-contracts

Yep going long now is potentially a good option. Held OZL for some time now with a view to getting in at the bottom of the cycle. Will be interesting to see where this one goes.

[BFG]

Yep going long now is potentially a good option. Held OZL for some time now with a view to getting in at the bottom of the cycle. Will be interesting to see where this one goes.

The depreciating AUD can only help those companies reporting in AUD

[Daytr]

Moosie, what are you talking about?
It hasn't cracked $2.50 & is hardly powering ahead...
You obviously know my view, so no pint repeating it.
Good luck guys.

[BFG]

Moosie, what are you talking about?
It hasn't cracked $2.50 & is hardly powering ahead...
You obviously know my view, so no pint repeating it.
Good luck guys.

Spot price currently soaring 3%+ to $2.5922. Futures will follow in step tonight.

http://www.kitcometals.com

[Daytr]

Yeah I saw that after I posted.
No one actually uses a spot price for copper.
Its the 3m price that's the copper bench mark, so that's the price for May.
If you asked most traders what the spot price for copper was they wouldn't even know the answer, they would calculate it back from the 3 month price & in fact that's how it is calculated.
So actually Futures dictate the spot price, not the other way around.

[BFG]

Yeah I saw that after I posted.
No one actually uses a spot price for copper.
Its the 3m price that's the copper bench mark, so that's the price for May.
If you asked most traders what the spot price for copper was they wouldn't even know the answer, they would calculate it back from the 3 month price & in fact that's how it is calculated.
So actually Futures dictate the spot price, not the other way around.

I duly look forward to what the spot price will be tomorrow morning. No doubt it will be higher than $2.50. Must be really packing those empty warehouses today

[Daytr]

Much higher & even the 3 month is now around $2.56/Lb !
I would suggest this purely speculative interests covering before Chinese NY & others going long on the hope stimulus in Europe & perhaps China creates demand. The data including stocks is telling me otherwise.

[Daytr]

Can't teach an old moose new tricks huh!

I duly look forward to what the spot price will be tomorrow morning. No doubt it will be higher than $2.50. Must be really packing those empty warehouses today

[h2so4]

Much higher & even the 3 month is now around $2.56/Lb !
I would suggest this purely speculative interests covering before Chinese NY & others going long on the hope stimulus in Europe & perhaps China creates demand. The data including stocks is telling me otherwise.

I'd go with it copper at 2.56 is cheap but I'm not a trader.