RE:RE:LME live warrants dropped by 30K to 123.4K tonsllihevad1 wrote: llihevad1 wrote: | Stocks | Amount |
| Opening Stock | 223175 |
| Live Warrants | 123350 |
| Cancelled Warrants | 99825 |
Even with the monthly release of 30K Ton of copper from China reserves copper stocks at LME have been dropping over the lst month...
| Stocks | Amount |
| Opening Stock | 200575 |
| Live Warrants | 82850 |
| Cancelled Warrants | 117725 |
Down to 82,850tons of available copper in LME storage...
Took a little over a week to drop 40K tons....
There have been a lot of historical games played with LME copper but with strong demand low investment during the pandemic there may not be as much wiggle room to keep copper in the shadow stock inventory...
To the moon Alice... At least keep above $4 a pound... and HBM will become a copper darling... Do not forget about the Zinc production same story in LME (not as pronounced) and price is staying around that $1.30 to $1.40 a pound...
One week later and the LME stock is down an additional 26K tons...
Copper price up world wide inventory stock down... Short squeeze must be causing the current price jump. But the metals prices have always been driven by the financial markets that are now realizing that the severe under investment in new mines will keep the price of all metals elevated for a time and if the demand side increases significantly with the push all Car companies are making into electric vehicles and the increased focus on renewables $4 a pound copper is not out of the question as a new baseline...
Most stock valuations are using a $3.50 a pound for copper so we should see some upward revision in the coming quarters...
Been a copper bull to long to not like that it is finally happening...
Buckle up...
| Stocks | Amount |
| Opening Stock | 191600 |
| Live Warrants | 56850 |
| Cancelled Warrants | 134750 |