But what about copper ?
- Thread starter syswizard
- Start date
More crazy copper price news.....this has gotta mark the top, right ?
http://blogs.marketwatch.com/thetel...explosion-linked-to-still-high-copper-prices/
http://blogs.marketwatch.com/thetel...explosion-linked-to-still-high-copper-prices/
Morning Copper Market Report
Fri 04 Oct 2013 07:36:12 CT
The copper market was able to post moderate gains this morning, but enters Friday's US trading session roughly 7 cents a pound below this week's highs. While China remained on the Golden Week holiday today, the return of Chinese market activity might provide some measure of support to copper prices next week. However, fears of further slowing from the US political situation continue to weigh on copper and other physical commodity markets.
Some traders think that if the market continues to see few signs of a deal going into the afternoon portion of today's session, it could ratchet up anxiety and increase selling interest in copper. On the other hand, copper continues to see a rather definitive pattern of declines in daily LME warehouse stocks. Today's decline was a rather surprising 4,025 tons, and was the 22nd straight session that showed declining stocks. With a lack of US data to be released this morning, the copper market may take direction from the price action in US equities as well as from a series of Fed speeches during the session.
------------------------------------------------------------------------------------------------------------------------------------------
Commentary:Well, who is buying all of that copper to reduce the LME stockpile ? Copper up 4 cents with Dec13 being the active month.
Fri 04 Oct 2013 07:36:12 CT
The copper market was able to post moderate gains this morning, but enters Friday's US trading session roughly 7 cents a pound below this week's highs. While China remained on the Golden Week holiday today, the return of Chinese market activity might provide some measure of support to copper prices next week. However, fears of further slowing from the US political situation continue to weigh on copper and other physical commodity markets.
Some traders think that if the market continues to see few signs of a deal going into the afternoon portion of today's session, it could ratchet up anxiety and increase selling interest in copper. On the other hand, copper continues to see a rather definitive pattern of declines in daily LME warehouse stocks. Today's decline was a rather surprising 4,025 tons, and was the 22nd straight session that showed declining stocks. With a lack of US data to be released this morning, the copper market may take direction from the price action in US equities as well as from a series of Fed speeches during the session.
------------------------------------------------------------------------------------------------------------------------------------------
Commentary:Well, who is buying all of that copper to reduce the LME stockpile ? Copper up 4 cents with Dec13 being the active month.
Morning Copper Market Report
Tue 08 Oct 2013 07:48:55 CT
December copper prices have posted early gains today, which some traders felt might be much more positive than was expected in the wake of a return of Chinese traders from their week-long holiday. However, other traders noted that December copper was able to close above a 21-day moving average yesterday, which they feel would seem to discount the threat of slackening demand from the US government shutdown.
On other hand, an extending pattern of daily LME copper stock declines has supported copper prices, especially since the overnight decline was a rather robust at 6,325 tons. Copper will see a number of global economic growth projections during today's session and the market will also be presented with earnings from Alcoa, as those issues might be capable of driving copper prices despite the impact of the US government shutdown.
-----------------------------------------------------------------------------------------------------------------------------------------------
Commentary: Copper up a few pennies this morning. Once again the shorts are confounded by these reports and events. The big question remains: who is causing the huge drawdown in the LME stockpile ? More important: Can it continue or will this eventually result in much less apparent demand in the future ?
Tue 08 Oct 2013 07:48:55 CT
December copper prices have posted early gains today, which some traders felt might be much more positive than was expected in the wake of a return of Chinese traders from their week-long holiday. However, other traders noted that December copper was able to close above a 21-day moving average yesterday, which they feel would seem to discount the threat of slackening demand from the US government shutdown.
On other hand, an extending pattern of daily LME copper stock declines has supported copper prices, especially since the overnight decline was a rather robust at 6,325 tons. Copper will see a number of global economic growth projections during today's session and the market will also be presented with earnings from Alcoa, as those issues might be capable of driving copper prices despite the impact of the US government shutdown.
-----------------------------------------------------------------------------------------------------------------------------------------------
Commentary: Copper up a few pennies this morning. Once again the shorts are confounded by these reports and events. The big question remains: who is causing the huge drawdown in the LME stockpile ? More important: Can it continue or will this eventually result in much less apparent demand in the future ?
Morning Copper Market Report
Tue 08 Oct 2013 07:48:55 CT
December copper prices have posted early gains today, which some traders felt might be much more positive than was expected in the wake of a return of Chinese traders from their week-long holiday. However, other traders noted that December copper was able to close above a 21-day moving average yesterday, which they feel would seem to discount the threat of slackening demand from the US government shutdown.
On other hand, an extending pattern of daily LME copper stock declines has supported copper prices, especially since the overnight decline was a rather robust at 6,325 tons. Copper will see a number of global economic growth projections during today's session and the market will also be presented with earnings from Alcoa, as those issues might be capable of driving copper prices despite the impact of the US government shutdown.
-----------------------------------------------------------------------------------------------------------------------------------------------
Commentary: Copper up a few pennies this morning. Once again the shorts are confounded by these reports and events. The big question remains: who is causing the huge drawdown in the LME stockpile ? More important: Can it continue or will this eventually result in much less apparent demand in the future ?
Tue 08 Oct 2013 07:48:55 CT
December copper prices have posted early gains today, which some traders felt might be much more positive than was expected in the wake of a return of Chinese traders from their week-long holiday. However, other traders noted that December copper was able to close above a 21-day moving average yesterday, which they feel would seem to discount the threat of slackening demand from the US government shutdown.
On other hand, an extending pattern of daily LME copper stock declines has supported copper prices, especially since the overnight decline was a rather robust at 6,325 tons. Copper will see a number of global economic growth projections during today's session and the market will also be presented with earnings from Alcoa, as those issues might be capable of driving copper prices despite the impact of the US government shutdown.
-----------------------------------------------------------------------------------------------------------------------------------------------
Commentary: Copper up a few pennies this morning. Once again the shorts are confounded by these reports and events. The big question remains: who is causing the huge drawdown in the LME stockpile ? More important: Can it continue or will this eventually result in much less apparent demand in the future ?