copperHere is an interesting divergence... Look up the 30 day performance for copper, and compare that chart with the 30 day inventory level at NYMEX:
https://www.kitcometals.com/charts/copper_historical.html
You can almost overlay one chart on top of the other, even though historically the two are inversely correlated. So which will break first?
When in doubt, remember that spot prices are a often a distorted picture based on which way speculators are leaning. Inventory levels are stark reality of the current situation. The market is telling us that copper is over priced, but the inventory situation says copper is in short supply (this fact is even more obvious when one considers the 5-year inventory numbers). I think that copper market is set for a smack in the mouth, as reality of consumption hits home yet again, and that the prices are going to go much higher, and probably back above $4 per pound.
So my outlook is that CS has room yet to soar. And once the implications of doubling production get discounted in, there is further room still for CS to rise. If I had to pick a short term target, I would go with $5 per share before the end of this year, but that is just a nice round number off the top of my head.
cheers!
COACH247
Voluntary disclosure: I own a chunk of CS in my portfolio. CS is a paid advertiser on my website.