Jump to content
House Price Crash Forum

Copper Market Continues To Soar


Recommended Posts

0
HOLA441

http://www.telegraph.co.uk/finance/markets/8307108/Copper-market-continues-to-soar.html

In London on Monday the price touched $10,122 a tonne. The effects of this astonishing rise have rippled across the world. In Britain trains have faced delays as rail companies have struggled to fix power lines that have been attacked by thieves determined to strip them of their valuable copper.

For E.On the problem of copper theft has become so acute that the power company has begun hiring former Gurkhas to guard electricity substations. Even the Church of England has been moved to decry the cost to it of fixing the damage caused when thieves target their buildings.

Behind the price rise are a variety of factors, but by far and away the leading driver is China's economic boom. In 2010, Chinese consumption of copper increased by 38pc, with the country now accounting for about one-third of total global demand.

Asian demand as a whole last year hit 10.7m tons and is expected to exceed 11m tones this year, compared to combined European and North American demand in 2011 of 5.6m tons.

Copper miners have been ramping up production to meet the growing demand, but the International Copper Study Group still expects a global supply deficit this year of 400,000 tones.

Looks like theft is going to continue for as long as the price keeps going up.

Link to comment
Share on other sites

1
HOLA442

http://www.telegraph.co.uk/finance/markets/8307108/Copper-market-continues-to-soar.html

Looks like theft is going to continue for as long as the price keeps going up.

Friend of mine works in railway security. They have cases where a JCB is used to rip the signalling cables out of a working line, the cable is then laid across the line (whilst live) for the train to cut as it runs across. The thieves pick remote spots where they can be away with the cable before the police can get there.

Link to comment
Share on other sites

2
HOLA443
3
HOLA444

Friend of mine works in railway security. They have cases where a JCB is used to rip the signalling cables out of a working line, the cable is then laid across the line (whilst live) for the train to cut as it runs across. The thieves pick remote spots where they can be away with the cable before the police can get there.

can't be too hard to find or chase a JCB - doubt it could get too far.

Link to comment
Share on other sites

4
HOLA445
5
HOLA446
6
HOLA447
7
HOLA448
8
HOLA449
9
HOLA4410
10
HOLA4411
11
HOLA4412
12
HOLA4413
13
HOLA4414
14
HOLA4415

When China blows, which it will ,there will be one helluva mess.

http://www.telegraph.co.uk/finance/china-business/8291626/Underground-world-hints-at-Chinas-coming-crisis.html

I think the trick is to create diversified and resilient income streams to see one through those bad times.

That and keeping your debt low.

But what do i know?

Link to comment
Share on other sites

15
HOLA4416
16
HOLA4417

Oh quite.

Even if you can drag any lucre outta the quicksand all around, by the time you've paid what you have to and avoided what you can, you certainly need twice or probably more like twice thrice that to make anything other than PAYE worth the candle.

And there's FCX, after a bright as bonnets start, down 2%.

Who'd've thunk that?

Edited by indirectapproach
Link to comment
Share on other sites

17
HOLA4418
18
HOLA4419
19
HOLA4420

And they are now very near on 99%+ of the penny piece supply. The past 3 years has seen them disappear from circulation.

The nickel-cupro pieces next!

There was an article on it last year.. will try to find it.

5p,10p,20p,50p and pounds to be magnetic in 2011/12 ?

Link to comment
Share on other sites

20
HOLA4421
21
HOLA4422
22
HOLA4423
23
HOLA4424
24
HOLA4425

On a serious FCX moment, google finance tells me they have the 2nd best P/E of their peers and the best net profit margin.

Bloomberg tells me their short interest is a very manageable 2.6%. That compares with a short interest percentage of 5.7% for GE to 0.7% for ExxonMobil.

FCX came out with results on January 20, which according to americanbankingnews.com beat estimates by 8% with quarter on quarter revenue up 21.5% but the shares have not kicked on from their pre-results levels.

FCX looks set to take some kicking on the back of China's interest rate move this afternoon but unless copper and gold have topped out as of this afternoon, it is a very good bet to go up a lot in price soon.

After all, it even has, "Copper and Gold" in its name, which is one of the reasons I hold this baby and believe in it.

Edited by indirectapproach
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    • No registered users viewing this page.




×
×
  • Create New...

Important Information