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fiatboy
Administrator
912 Posts |
 Posted - 03/27/2008 : 02:05:15
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Warehouses in Shanghai have recently increased their copper stockpile to 67,824 tons, with more on the way. China is importing more copper on average per month than they did in 2007. Comex copper futures continue to trend higher with a relatively steady 100 and 200 day moving average. Demand from the BRIC countries is still strong, and eastern European demand is higher than expected. Even though some copper mines are surpassing output expectations, and traders are cautious about copper's current price, world demand is looking healthy. Don't let a few bumps in the road get you down. Copper has been and will continue to be a vital metal worth holding in physical form.
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"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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copperbullion
Penny Pincher Member
Australia
136 Posts |
Posted - 03/27/2008 : 05:09:00
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| Yahoo... well said. |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 03/27/2008 : 06:35:06
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Yep....
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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wheeler_dealer
Penny Collector Member
USA
402 Posts |
Posted - 03/27/2008 : 09:58:19
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| Good reason to accumulate. Keep in mind that China is building up it's Military Industrial Complex. They will probably continue to accumulate all metals and at the same time dump all those depreciating FRN's for all available above ground natural resources. Who can blame them. |
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fiatboy
Administrator
912 Posts |
Posted - 03/31/2008 : 21:06:23
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Copper deficit forecast for this year and next
Posted: March 27, 2008, 12:00 PM by Peter Koven
The copper market is very tight, and according to analysts at UBS Securities, it is going to get even tighter.
With rampant supply disruptions and very low inventories, the analysts have revised their view and are now forecasting deficits of 100,000 tonnes in 2008 and 2009. They were previously expecting surpluses of 300,000 tonnes this year and 100,000 tonnes next year.
Everyone knows that the demand from China and India remains strong and is a big driver for the copper market. But according to the analysts, the bigger risk today is supply disruptions, which are already happening and could get a lot worse.
"The risk of significant disruptions [particularly in Chile and the African copper belt] to forecast output are very high. Labour, maintenance, weather, grade, and increasingly energy are combining to make copper mine supply one of the most precarious of any of the base metals," they wrote in a note to clients.
They go on to discuss a number of supply risks, but two that clearly stand out are power concerns in Chile and Zambia and political risk in the Democratic Republic of Congo.
Meanwhile, global copper inventories add up to just 1.8 weeks of consumption, the lowest of any base metal. That could make the market incredibly tight if there is a significant supply outage, they wrote.
With all that in mind, the UBS analysts are upgrading their 2008 copper forecast to US$3.50 a pound (from US$3.00) and the 2009 forecast to US$4.00 (from US$3.40). The 2010 estimate is a whopping US$4.50 a pound.
Peter Koven
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"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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Copper's Looking Strong
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