RE:Copper price
They have been down this road before. It is some institutional or behavioural bias of favouring a hope for weakness versus fear of metals prices rising. Alcan they waited and waited then pulled the trigger at absolutely the worst moment when they feared they had waited too long.
It's as if personal grading of internal decision-making isn't harmed by metals price predictions - but executives are expected to be razor sharp in being hard dealers who extract every advantage.
It's actually pretty funny when the market turns against them and they get slammed by metals prices and industry valuations rising while they were trying to stall for time and be clever.
Gotta love the CU price action! We have a boatload and we all know much much more than they are putting in any 43-101 or PEA. Leverage!
cg