Nevada Copper Corp NEVDQ

More positive news for Cu & NCU.TO

[kddougan]

• Copper for delivery in March closed at $6,314/t, an eight month high and up 3% from 2019’s closing level.
• On Monday, the US treasury lifted China’s designation as a ‘currency manipulator’, aimed at easing tensions ahead of the phase-1 trade deal.
• China consumes half of the world’s copper, and the dispute with the US has weighed on the copper market, which is sensitive to broader economic conditions.
• Copper inventories in New York, Shanghai and London have shrunk 37% since July to under 300,000t (Bloomberg).
• Chinese copper imports hit highest since 2016 (Reuters)

• China’s unwrought copper imports rose 9.1% from November to December, reaching their highest level since March 2016.
• Imports stood at 527,000t last month compared to 483,000t in November, and up 22.8% from December last year.
• Full year unwrought copper imports were down for the year, at 4.98mt vs 5.3mt in 2018, a 6% drop.

Key takeaways : Copper Inventories shrinking, continued labor & goverment issues continue to eat away at Chile's suppply which produces almost half of the Worlds Copper Supply ( down 37%)

China continues to import at impressive levels and will only increase substantially when trade war is finalized ( it seems they are slowly working tto resolve this sooner than later) China uses half the worlds supply

Nevada Copper is well positoned to fill the void in supply as they continue to ramp up production  KD