SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Copper - analysis
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: tyc:> who wrote (139)6/18/2000 9:51:00 AM
From: Robert Douglas  Read Replies (2) of 2131
 
Re:

The last time LME inventories were at 582,000 tonnes and falling, was in 1994. The price of copper was the same as it is now (about .80-.85 c per lb).

Subsequently in 1994, inventories continued to fall and prices rose eventually to $1.40 per lb.

I remember that period well. I was long copper futures then as I am today. However, I don't expect nearly the upside this time. First off, much of that rise turns out to have been manipulation from Sumitomo Corp. Second, as soon as copper rises above a dollar a pound there will be capacity added from recently idled mines.

I don't expect inventories to fall to the critical levels of the mid 1990 years. There is just too much capacity to allow for it.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News