Back to the $4:30 - $4.40 channel that copper had been trading in previously. It’s not a supply issue as production at all the major mines except Kamala-Kukula have struggled to maintain production recently. Even Oyu Tolgoi in Mongolia is struggling to maintain grades and is looking to acquire more copper ground nearby from a very reluctant seller.
Maybe a knee jerk reaction to a likely Trump presidency.
AIS Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)