RE:RE:Rosenberg: Now is a good time to add commodity exposureUnless you bought IVN at prices north of $19 I'd say there's no worry at all. The copper consumption thesis is intact. Other countries will get on the consumption train and, in time, China will get back on it as well. Even a "weak" China consumes a huge and increasing amount of copper. Also, a lot of the copper imported by China is transformed into goods for export. We are nowhere near a decent incentive price for new projects; this caps supply. Short-term slowdown (say over the next year) I could care less; I'll be buying into SP weakness created by the lemmings.
Coppernut wrote: That was the positive part of their report. The less rosy part (for us) was their abrupt change in their copper outlook from medium term very bullish to now more cautious due mainly to China and unexpected supply additions from Brownfield expansions like ours. Still, in their Q1 letter they pointed out the expected surge in demand from India and Indonesia as these two huge population countries rise in GDP and will start demanding air conditioners etc. resulting in a rapidly increasing copper demand per capita.