Copper?

[nattybumppo]

Heya Folks,

I heard on BB that Copper is moving. I looked at the CPER index and, indeed, it's up a nice percent since Feb 01. A couple questions:

1. What moves the price of copper?
- Why the longer-term uptrend and recent pop?
2. What is the primary copper index?
- Typically I look to the London Metals Exchange for spot price on Gold and Silver. Does the same hold true for copper?
3. Anyone know the Interactive Brokers tickers for copper?
- The commodity intex
- I found CPER and JJC for ETFs

tyvm,
Keith

Goldman Sachs: Historic Copper Shortage Loom As Prices Rocket
https://oilprice.com/Metals/Commodi...ic-Copper-Shortage-Loom-As-Prices-Rocket.html
... it is only a matter of time before we see a new all time high. Indeed, overnight copper extended its surge to a nine-year high as Goldman Sachs warned of a historic shortage with "the market now on the cusp of the tightest phase in what we expect to be the largest deficit in a decade" as Chinese buying "triggers the next leg higher" adding to expectations that prices will near a record sooner rather than later. Here are some highlights from a note published overnight by Goldman analyst Nicholas Snowdon....
SNIP
Goldman now expects copper to be trading at record highs in 1 year.
SNIP
Citi agreed with Goldman, expecting a substantial supply deficit until at least 2023.
SNIP
It wasn't just copper: other commodities have also soared with lithium, key to powering electric cars and backing up renewable energy, rebounding. And while tin headed for an unprecedented 16th straight weekly gain amid a supply squeeze, Platinum has been this year's top-performing major precious metal, thanks to its use in catalytic converters.

 

[kmiklas]

Goldman Sachs: Historic Copper Shortage Loom As Prices Rocket
https://oilprice.com/Metals/Commodi...ic-Copper-Shortage-Loom-As-Prices-Rocket.html
... it is only a matter of time before we see a new all time high. Indeed, overnight copper extended its surge to a nine-year high as Goldman Sachs warned of a historic shortage with "the market now on the cusp of the tightest phase in what we expect to be the largest deficit in a decade" as Chinese buying "triggers the next leg higher" adding to expectations that prices will near a record sooner rather than later. Here are some highlights from a note published overnight by Goldman analyst Nicholas Snowdon....
SNIP
Goldman now expects copper to be trading at record highs in 1 year.
SNIP
Citi agreed with Goldman, expecting a substantial supply deficit until at least 2023.
SNIP
It wasn't just copper: other commodities have also soared with lithium, key to powering electric cars and backing up renewable energy, rebounding. And while tin headed for an unprecedented 16th straight weekly gain amid a supply squeeze, Platinum has been this year's top-performing major precious metal, thanks to its use in catalytic converters.

Note that catalytic converters are not needed in EVs, so I'd expect the price of Platinum to decline if and when EVs start to take hold.

 

[easymon1]

HG Coppa
https://www.elitetrader.com/et/thre...at-right-here-baby.343012/page-8#post-5330558

Copper facts
https://www.nrcan.gc.ca/our-natural...g/minerals-metals-facts/copper-facts/20506#L3

Search: what company control copper reserves?
https://yippy.com/search?query=what+company+control+copper+reserves?+

 

[unconventional wisdom]

inflation fears are popping up everywhere and materials and energy are the most accessible plays. i'm late to the party but also now overweight materials and energy

 

[nattybumppo]

inflation fears are popping up everywhere and materials and energy are the most accessible plays. i'm late to the party but also now overweight materials and energy

Use caution. Any overall inflationary spurt is likely to be short lived.

 

[maxinger]

today, it dropped 5% already

 

[maxinger]

as of now, today day range is 5.2%

seems like it is reversing direction to go up.
Shanghai INE copper market is going to open soon..
Let's see what they will do.

 

[Pricechange]

https://www.channelnewsasia.com/new...-against-chevron-over-climate-claims-14422370

US govt featuring NGO lawsuits against some big oil recently in order to shake out the hot money. Me thinks Biden and Powell have the same notions toward big miners. I'm looking for some near term commodity pull backs based on injecting fear over Green Power and Green Burden on mining. But I will buy into these pull backs. Seems just jawboning and shallow threats.

 

[maxinger]

and today Comex copper has already dropped 5% since the Asian session.

Will it drop further during the US session?

Shanghai INE copper?
When are they going to change trading hours?
there is a total of 4 sessions in a day with breaks here and there
(and hence gaps here and there).

 

[coolman]

I have a question, if anyone can answer, I will be glad.
while trading futures, is there any service that provide the details about how many trades were carried out at bid and how many at ask during the day or during 4 hour candle?