Anyone else watching copper?

bronco2078

Apparently someone has been building up a huge position .

almost a 90% stake

derryb

JPM?

bestmr

Alright! I'm THAT much richer with all my copper pennies.

cohodk

So somebody bought 90% if the worlds copper yet prices did not rise. What happens if he sells?

derryb

<< <i>So somebody bought 90% if the worlds copper yet prices did not rise. What happens if he sells? >>


His not selling is what will raise prices. He controls 90% of the ask price.

vpr

It's not 90% of the world's copper. Just stocks held by the LME. I'm guessing another rogue trader who is averaging down.

derryb

<< <i>It's not 90% of the world's copper. Just stocks held by the LME. I'm guessing another rogue trader who is averaging down. >>


or gambling up.

tincup

No worries.

The exchange says they have 'robust' rules against regulations....

So no way can they get away with it. Right??

jmski52

What happens if he sells?

The same thing that happens when everyone wants out of stocks at the same time, except that Wall Street exits first.

cohodk

We see this sort of activity all the time. A little research will reveal usual outcomes.

jmski52

We see this sort of activity all the time. A little research will reveal usual outcomes.

Generally, the outcome depends on who has the political connections.

bronco2078

Physical copper is a different story that is concentrating in china just like physical gold is.

China has been pulling in the lion's share of ore for a while now. They are also refining a lot , they are putting out twice as much refined copper as Chile which is in 2nd place .


I don't know if paper copper is a good investment but I stack physical. I pick up a bit of 10% junk copper US coins every week at the LCS

derryb

<< <i>I don't know if paper copper is a good investment but I stack physical. I pick up a bit of 10% junk copper US coins every week at the LCS >>


I'm stacking US nickels for the extremely long term.

jmski52

I used to hoard BU rolls of nickels. I still have them, because they're too heavy and expensive to ship after ebay and paypal fees - so they sit. Maybe I'll stack them into a safe that's not bolted to the floor - as burglar bait. Oh wait, I'm already doing that with cents.

johnny9434

it wouldnt hurt to have some set aside. the price has to go up sometime. jmo

Barndog

the only form of copper that I stack (and occasionally use) typically comes packaged in 20 or 50 piece boxes.

derryb

nickel is the silver of the future.

Coins101

One thing I just became aware of is the military has switched from bullets containing lead to copper bullets (better for the environment though it will cost taxpayers much more). So, with the exception of mining the gun ranges, copper, however small, will be used up every time a shot is fired.

C0INB0Y

fficial&tbm=isch&tbo=u&source=univ&sa=X&ei=UDS6Uu6vKa6GyQHD4YG4AQ&ved=0CCsQsAQ&biw=1440&bih=738">Remember the Collapse?

Baley

I find silver too bulky to store in quantity; never mind nickel and copper.

I need to be mobile in case I need to cash in my insurance, and that means gold and platinum.

for speculation, copper and nickel do not make my top 50 list.

bronco2078

Here is a good study of copper for those interested world copper fact book 2013

Its a pdf so i can't link directly to a certain page but look at the trading flow maps starting on page 34 .