Thursday, November 24, 2022

Copper: What's Your Timeframe?

Four from Mining.com:

Tomorrow through month-end? Dollar Index down again is almost mechanistically supportive for commodities priced in bucko's.

Next month? "World’s biggest copper mine moves closer to strike"

Next year? "BHP sees 2-3 years of elevated costs, near-term copper oversupply"

Next decade? "Codelco sees copper deficit at 8 million tonnes by 2032"

For now and into Q2 2023 the West and maybe China have a recession they have to get through.

And enough with this nonsense: "Copper price rises on China’s property support".

As we've said a few times, government support of the overindebted property developers is not nearly the same thing as supporting the construction of new housing.