But what about copper ?
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Copper Adds to Slide, But Finds Support in Global Growth Hopes
By Thomson Reuters - Thu 29 Aug 2013 07:25:49 CT
London copper fell for a third session, as the dollar rose against a basket of currencies, but was underpinned by steady Chinese demand and the prospect of a slow revival in global growth.
Commentary: Sept copper down 4+ cents. I think the longs are starting to lose hope here. A slow revival could mean global stockpiles will be building. High Supply relative to demand must drive prices lower unless "someone" is buying to stockpile on their own.
Food for thought and a rational explanation for why copper isn't already under $3.00
By Thomson Reuters - Thu 29 Aug 2013 07:25:49 CT
London copper fell for a third session, as the dollar rose against a basket of currencies, but was underpinned by steady Chinese demand and the prospect of a slow revival in global growth.
Commentary: Sept copper down 4+ cents. I think the longs are starting to lose hope here. A slow revival could mean global stockpiles will be building. High Supply relative to demand must drive prices lower unless "someone" is buying to stockpile on their own.
Food for thought and a rational explanation for why copper isn't already under $3.00
Morning Copper Market Report
Thu 29 Aug 2013 07:31:25 CT
December copper came close to reaching a new 2-week low during overnight trading, but has been able to recover from early pressure and has bounced back to unchanged levels this morning. In addition to adverse currency market action, copper also received somewhat negative daily exchange copper stocks data as LME copper exchange stocks rose for the second time in three sessions after posting 28 straight draws.
However, copper may have found fresh support overnight from a general recovery in global equity markets and/or from a temporary lull in the Syrian situation. However, the lull in the Syrian situation might be short-lived as UN inspectors are expected to wrap up their investigation on Friday and evidence of chemical weapons use from the UN might give the US, the UK and other Western nations a green light to act, even if the UN Security Council holds back their authorization.
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Commentary: Well, the 28 straight days of drawdowns at the LME would explain copper's price behavior. Who was buying I wonder
Thu 29 Aug 2013 07:31:25 CT
December copper came close to reaching a new 2-week low during overnight trading, but has been able to recover from early pressure and has bounced back to unchanged levels this morning. In addition to adverse currency market action, copper also received somewhat negative daily exchange copper stocks data as LME copper exchange stocks rose for the second time in three sessions after posting 28 straight draws.
However, copper may have found fresh support overnight from a general recovery in global equity markets and/or from a temporary lull in the Syrian situation. However, the lull in the Syrian situation might be short-lived as UN inspectors are expected to wrap up their investigation on Friday and evidence of chemical weapons use from the UN might give the US, the UK and other Western nations a green light to act, even if the UN Security Council holds back their authorization.
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Commentary: Well, the 28 straight days of drawdowns at the LME would explain copper's price behavior. Who was buying I wonder
It's all about the precious metals now:
http://www.marketwatch.com/story/go...-looks-even-better-2013-08-30?dist=lcountdown
The big question is: does this possibility have any implications for the NON precious metals ?
If inflation takes off, then all commodities should rise, correct ?
http://www.marketwatch.com/story/go...-looks-even-better-2013-08-30?dist=lcountdown
The big question is: does this possibility have any implications for the NON precious metals ?
If inflation takes off, then all commodities should rise, correct ?
Euro-zone factory rebound spreads to Spain, Italy
Recovery seen in countries hit by fiscal crisis
http://www.marketwatch.com/story/euro-zone-factory-rebound-spreads-to-spain-italy-2013-09-02
Quandary: is this a blip or will this last ?
Copper up 5 cents on this news.
Recovery seen in countries hit by fiscal crisis
http://www.marketwatch.com/story/euro-zone-factory-rebound-spreads-to-spain-italy-2013-09-02
Quandary: is this a blip or will this last ?
Copper up 5 cents on this news.
Morning Copper Market Report
Tue 03 Sep 2013 07:22:15 CT
Copper was able to post sizable gains during the overnight session, which some traders found surprising as it came in spite of some adverse currency market action as well as news of a rather large rise in copper exchange stocks. LME copper stocks saw a 13,100 ton rise this morning, but some traders feel that news may have been offset by threats of a strike at a Freeport mine in Indonesia.
Favorable Chinese economic data over the holiday weekend was also seen to have helped copper climb up and away from last week's spike down price action. From last week's high to the low on Friday, December copper prices saw a huge slide of roughly 17 cents a pound. The focus of the copper market is expected to shift back towards the US economy this week, as the US economic report schedule today is active.
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Commentary: Interesting movement .... and I would guess there was some shortcovering in this move as well.
As I said before, this is going to be an up/down trading affair until either inflation or deflation begins to dominate.
Tue 03 Sep 2013 07:22:15 CT
Copper was able to post sizable gains during the overnight session, which some traders found surprising as it came in spite of some adverse currency market action as well as news of a rather large rise in copper exchange stocks. LME copper stocks saw a 13,100 ton rise this morning, but some traders feel that news may have been offset by threats of a strike at a Freeport mine in Indonesia.
Favorable Chinese economic data over the holiday weekend was also seen to have helped copper climb up and away from last week's spike down price action. From last week's high to the low on Friday, December copper prices saw a huge slide of roughly 17 cents a pound. The focus of the copper market is expected to shift back towards the US economy this week, as the US economic report schedule today is active.
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Commentary: Interesting movement .... and I would guess there was some shortcovering in this move as well.
As I said before, this is going to be an up/down trading affair until either inflation or deflation begins to dominate.
Copper Offered, Finds Foothold on Demand Expectations
By Thomson Reuters - Wed 04 Sep 2013 07:01:49 CT
London copper prices edged lower, hurt by receding appetite for risk as an air strike on Syria looked more likely, but supported by signs the global economy is finally getting on track.
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Commentary: I don't dispute this could be constructive for copper. But this market is getting volatile....all of yesterday's gains have disappeared.
Down 6 cents this morning.
By Thomson Reuters - Wed 04 Sep 2013 07:01:49 CT
London copper prices edged lower, hurt by receding appetite for risk as an air strike on Syria looked more likely, but supported by signs the global economy is finally getting on track.
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Commentary: I don't dispute this could be constructive for copper. But this market is getting volatile....all of yesterday's gains have disappeared.
Down 6 cents this morning.