Posted on 06/30/2014 10:33:37 AM PDT by blam
Tyler Durden
06/30/2014
Copper has rallied almost 6% in the last few weeks with a 1.25% surge today sending the 'economic' metal back to near 4-month highs. This must means demand is picking up, right? This must mean the world is ok, right? Chatter is that this morning's home sales 'noise' surprise spike was the catalyst but it appears much more likely that a combination of a continued squeeze of a very-extended spec short position and the ongoing unwind of China's commodity-finance-deals is the real catalyst. As the market comes to terms with synthetic demand (CCFD unwinds buying back hedges) dominating any excess supply in the spot market, futures positioning still has more room to go.
Copper is surging today...
(snip)
(Excerpt) Read more at zerohedge.com ...
Is there that much copper in new houses?
Lately, plumbing is plastic hose with a connection to a copper valve station. So that leaves the wiring. Not much mass there.
Short copper maybe? This seems like over reaction.
tx fer the data, they explain a lot (imho).
Short copper maybe? This seems like over reaction.
What about all of that “re-hypothecated” Copper that was talked about earlier in the month in China?
“Is there that much copper in new houses?”
Friends of my daughter recently built a house with a copper porch roof.
Maybe it’s “in” again.
.
It would take a lot of homes to equal one very small industries project, in my opinion. My tiny projects of late involve buying tons of copper, and they are tiny compared to most of my career.
tons of copper wire, that is.
Is it copper going up or fiat currencies going down?
I see that gold and silver moved similarly.
Not in Ill-Annoy. Our pols love us so much they make us use copper.
I took all the circuits from a large projection tv, a motor from a blender with lots of copper inside, some odds and ends aluminum to the recylers today and all I got was a bout $3.30....I’m proud that I recycle but the prices they pay are a rip off...
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