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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (11557)4/8/2004 9:33:40 PM
From: Little Joe   of 110194
 
"Whatever number you use, it suggests that one heck of a lot of industry dependent on copper needs to really cut back and ration, severely. The economic impact of such a contraction is enormous. The primary short term factor in that equation is the repair of the slide at Grasberg in Irian Jaya, that has taken about 250k-300k MT out of production. Almost all the projections factor that coming back on line in about June. FCX has been dead silent about that, but it's expected they will update the progress of the repairs when they report in a few weeks. If it's delayed, you better be prepared to use my 8-9% deficit figure."

I have noticed that FCX is technically very weak, so maybe the market is telling us that production will not resume quickly.

Little joe
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