Gold and Silver Juniors, Mid-tiers and Producers Message Board

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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: heinz44	3/8/2007 5:58:20 PM
	of 78417

Warehouses dump copper London Metal Exchange numbers for March 7, 2007… There is a market rumor that a hedge fund got on the wrong side of the China market sell-off and had to regurgitate some metal tonnage. There numbers out of the LME for yesterday showed that there were no inflows to any copper warehouse. The outflows were across the board and were as follows: Antwerp -25T Baltimore -325T Busan -350T Gwangyang -100T Leghorn -250T New Orleans -175T Rotterdam -850T Singapore -100T St Louis -225T New Orleans had an outflow (-175T) from the warehouse, and the cancelled warrants there increased to 2450T, which means some of that paper-traded copper from Dec/Jan is finally being moved out. Copper was up for the day at $2.75 a pound. I’d recommend buying the dip, because once these outflows are worked off, the demand pressure will increase.

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