Copper Mountain Mining Corporation T.CUM

RE:Coiled Spring of copper

[Returns2021]

Have no fear, China is crashing.  Copper will fall below $2

woody999 wrote:

And it’s not just in China that stocks are low. Robert Edwards at CRU Group estimates that global copper stocks currently stand at just 1.6 weeks of consumption — the lowest ever in the consultancy’s data going back to 2001.

As a result, any improvement in the macroeconomic outlook or pickup in Chinese demand could have dramatic implications for global copper prices.

“If the Chinese economy does get a bit better we could in a lot of commodities be saying, ‘Oh, where’s the inventory?’” said Mark Hansen, chief executive of metals trader Concord Resources Ltd. “We’ll find it just doesn’t exist.”

(By Alfred Cang and Jack Farchy)