Large-scale speculators in the copper market like hedge funds have held net short positions – bets on falling prices – for six weeks running. copper miningnews
But Goldman’s main argument of the dangers of a “scarcity episode” or a “stock-out” remains well supported. When the Chinese government starts buying copper on the open market it’s usually read as a sign of prices bottomingreleased last week exhibits a five year chart of global copper warehouse inventories.
“When adjusted for days of consumption, inventories are almost as low as they were back in 2005, just before copper prices more than doubled. In 2005, copper exchange inventories covered consumption by only two days. China’s unwrought copper imports are up nearly 6% while concentrate shipments are around 7% higher so far this year, encouraged by the fall in price, according to Capital Economics, a London-based research firm. In contrast, cargoes of iron ore, for which China is significantly more reliant on imports than copper, are down 3.5%.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Morgan Stanley picks China stocks to beat market volatility — and names two with 60% upsideMorgan Stanley is betting on a few Chinese stocks to ride out what's expected to be a period of high market volatility.
Leer más »
Antofagasta’s Twin Metals sues US government over Minnesota copper projectMove is a bid to reverse the cancellation of mineral leases for the company's proposed copper and nickel mine. Antofagasta nickelmining
Leer más »
A boost for African research from ChinaLetter to the Editor
Leer más »
China battles forest fires as fears linger over harvestThe southwestern Chinese regions of Chonqging and Sichuan were battling fires on Tuesday as they awaited a long-anticipated drop in temperatures over the next week, but the country's important autumn harvest remained under serious threat.
Leer más »
Climate change in China hikes price of rare mushroom, a delicacy in AsiaFor years, China has been one of the world’s largest suppliers of a rare delicacy — the matsutake mushroom. But this year, a prolonged drought and heat waves across the country’s south have slashed the harvest and sent prices skyrocketing.
Leer más »