I'm no expert and even if I was this would still be a guess, but by looking at these charts it sure looks to me that LME Copper Warehouse Stocks have hit a peak and are getting ready to turn down again.
What does this mean to copper prices? Well the last peak was around Feb07 with copper prices at $2.50. In the following 5 months, the warehouse stock was halved and the copper price went to the $3.50s.
Currently the warehouse stocks are sitting right about where they were in Feb07 and the graph shows the copper stock with a nice rounded top forming (indicating that growth of the stock has slowing down bit by bit). An identical rounded top can be seen around Feb07.
LME Copper Warehouse Stocks May Have Peaked
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Posted - 01/10/2008 : 08:27:13
