Nevada Copper Corp NEVDQ

Cu down poor economic data and new coronavirus restrictions

[bogfit]

LONDON, Jan 22 (Reuters) - Copper fell on Friday alongside stock markets and oil prices as poor economic data and new coronavirus restrictions in China, the world's biggest raw materials consumer, weakened the outlook for economic growth and demand.

Benchmark copper on the London Metal Exchange (LME) was down 1.7% at $7,882 a tonne in official trading after reaching an eight-year high of $8,238 on Jan. 8.

"We are just hitting the buffers here," said Saxo Bank analyst Ole Hatbreak in China and the upcoming Chinese Lunar New Year holiday may curb industrial activitnsen. "Commodities had a phenomenal run, and that just screams correction." A coronavirus ouy. This and slow progress suppressing the virus in Europe and the United States are forcing investors to reassess copper's near-term outlook, he said.

But many analysts, including Hansen, say supply will tighten as the year progresses, pushing prices higher. OUTBREAK: China reported 103 COVID-19 cases on Friday, with Beijing launching mass testing in some areas and Shanghai testing all hospital staff. ECONOMY: Economic activity in the euro zone shrank markedly in January, PMI surveys showed, while forecasters surveyed by the European Central Bank downgraded their growth expectations for the bloc this year. MANUFACTURING: Japan's factory activity slipped into contraction in January. MARKETS: Oil prices and Chinese, European and U.S. equities fell. The U.S. dollar steadied after three days of losses. POSITIONING: Speculators are reducing bets on higher copper prices from multi-year peaks. COPPER STOCKS: However, copper stocks in warehouses monitored by the LME, Comex and the Shanghai Futures Exchange are dwindling, with ShFE inventories the lowest since 2011. TIN: Benchmark tin was down 1.3% at $21,725 a tonne after tightness in the LME system pushed prices to $22,395, the highest since 2014, on Thursday.


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[patchh]

5 Year LME Copper Warehouse Stocks Level from a high of 400000 tons in the market exchanges may 2020 its below 100,000 tons today.  in sept it was 75,000 tons inventories came bak up in sept to 180,000 tons..  i wouldnot put much weight on the chickenlittle report suggesting copper hits 3.00

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" i wouldnot put much weight on the chickenlittle report suggesting copper hits 3.00"(sic) And I wouldn't put much weight on data that is not cited.  Unless you happen to carry those statistics around in your head every day, you must have looked up the numbers so why not include your source in your post; then we can check for ourselves instead of just taking the word of an

[patchh]

i am giulty of shooting from th hip !! 450K down to 75,000 tons from kitco (?) not a small drop..  i never said it would htit..  but if i goes south - not much more than 3.. BNN C. analyst had it @ 4 into 2nd 1/4 and the  slowing..  @ 3.66  when he said that - kinda felt like that a balleless homerun call.. Bank of america Analyst said 5 buks slowing in second 1/4

[patchh]

bogfit...  i make a lot of SWAG's pretty shure i stumbled over the item in EPA thaqt this had been signed on Jan 18 - 2021.. https://ndep.nv.gov/land/abandoned-mine-lands/anaconda-home/anaconda-whats-new pgg 77 20180205_ACMS_IAOC_App_E_ROD-1.pdf that ring of green is copper - the lake is 800 feet deep.. the armetico site is deemed as a operable unit.. run a gate across the street

[bogfit]

"  i make a lot of SWAG's"   Not sure what that is supposed to mean, Gabby.  Try English.   Authentic Frontier Gibberish - YouTube   "...pretty shure i stumbled over the item in EPA thaqt this had been signed on Jan 18 - 2021.."(sic)   Well, no.  You didn’t because the article you cited has nothing to do with copper warehouse levels. but