RE: Hedges? Thank you for the information Mr. Magnum
I was looking for the hedge book percentage and durations, you have stated they have done in the past but no mention in the financials which is odd as the CU decline is not new.
After reviewing financials (no hedge) an increase in production of 16% to make up for lower CU price and additional 4% + for fixed cost inflation and capital restorations.
As such I have let majority of shares go recently. Expect to track CU price.
Talking heads are working hard to supress commodity markets.
Wars raging in many places in the world - rebuilding will follow. China is pulling back in optics only, otherwise growing and urbanizing at the same time.
Demand is not IF but WHEN, at this time there is more capital destruction than resurgence, Europe is in the tiolet and losing ground fast.
