Post by
IgnacioCashmere on Nov 18, 2020 11:10pm
3MO LME Copper
breaks the $7,000 per ton. The stars are aligning, but perhaps we will have to wait for our all time favorite year 2020 to pass to start the big gains.
Comment by
Trouger on Nov 19, 2020 3:10am
Does Copper price matter to MIN ? I thought that MIN has got an agreement with his copper customer whereas MIN will sell the copper to an agreed copper price. And I am afraid that the price ist not very good because at the time of agreement the copper price was quite low Cheers
Comment by
shahabstarship on Nov 19, 2020 8:15am
Off take for limited time only - around 1 year. Also the copper price helps with the attraction of the project for buy outs and further investments.
Comment by
ArizonaBilly on Nov 19, 2020 10:31am
I seem to recall that the Trouger deal is at spot prices.
Comment by
CopperWave on Nov 19, 2020 1:20pm
Copper price most definitely matters because if I recall correctly, it was a contract to sell copper only for the remainder of 2020. It was a short term hedge during volatile times and was the right move during covid as copper dropped shortly after. Seeing as peak production won't occur until 2021, our copper will be sold at market since the contract will have expired.