bly's new announcement, page-7

With the global equity markets stablising, and financial and credit markets improving we'll see the AUD rise against the USD which will be good for BLY.

There are skeptics and doubters who continue to talk down recovery, but China has continue to mop up available refined copper on LME and SHFE. In one of my earlier post DT pointed me to an article about a metal recycler doing it tough, but DT was clearly comparing apples with oranges because even if it was true that chinese slowed down on buying scrap metals they have bought hundreds of tonnes of the refined copper in the last few months, and are still buying. When everyone else decide to come back into the market and buy copper again China is not going to retreat into using their strategic reserve, instead they will keep buying fresh stocks for use.

It's funny how last year when we all knew we were in recession the Fed just kept avoiding the R word. Now that people have moved on the other R word (Recovery) the Fed is watering it down, saying it will be slow. To me, last year the Fed was fighting recession but did not want acknowledge it for fear of it getting worse. Now that things have stablised the Fed is worry about the coming inflation caused by the massive printing of USD. When the Fed 'sees' gradual recovery, I think it means they would like the recovery to be gradual - i.e. hopefully they won't have to deal with inflation too soon before the economy is sufficiently healed.