Tag Archives: copper investing
September copper futures advanced 0.3 percent [yesterday], exactly the estimated increase in U.S. industrial production for June, according to Bloomberg. This is good news for copper miners, who have seen rising inventories after months of manufacturing slowdown in China, their number-one customer. Despite these gains, copper inventories on the London Metal Exchange rose 0.6 percent [...]
Last week I was in Nevada — a quick trip to see a gold mining operation in the northern part of the state. The firm I visited is far from being a big, famous, name-brand miner. The outfit is still in the proverbial “company building” phase. Then again, the map of the region is loaded [...]
“Copper rose to the highest in more than a week on prospects for reduced supply of the metal as the world’s second-biggest mine remained closed following deadly accidents,” Bloomberg reports. Analysts estimate that the world copper supply will decrease by roughly 140,000 metric tons during the three months Freeport-McMoRan’s Grasberg mine is expected to be [...]
At first glance when you hear the report from Bloomberg you’d be quick to assume copper prices are in trouble. “Copper futures in New York fell the most in four months” Bloomberg reports, “as a drop in U.S. homebuilder confidence and speculation that China will move to cool property purchases damped demand prospects for the [...]
Copper prices have found support above the $3.60 mark and could be headed higher. According to Bloomberg, “Copper traders are bullish for a third consecutive week as the fastest expansion in Chinese manufacturing in two years boosts confidence that the biggest buyer of the metal is leading a global recovery.” The next move could be [...]
The beaten down metals market is poised for a comeback. Although I won’t get into the timing of this move – there are plenty of bargains out there, two of which share a similar name. NovaGold’s massive Donlin project can’t be overlooked. Also the recent spinoff of NovaCopper offers its own opportunity. Over time, both companies should do well. Just be patient.
Considering supply and demand the price of copper should be headed higher. Here’s what this morning’s Bloomberg report said: “Copper traders are bullish for the first time in six weeks on signs that demand is still expanding as global inventories decline to an 11-month low and central banks cut funding costs to shore up growth.”
Some people call it a mining supercycle, but let’s just call it a return to the norm. China is back on the scene as a world power – and frankly a global game changer. With that said, the mining industry is set to boom — demand for copper, base metals and precious metals is on the rise.