Looking at charts of copper and tin on the LME, and there is a continuing price fall in $US thanks to Trumps trade wars, and the fear this generates. I'm thinking there will be a stronger set of figures in the June Q report due soon, with a better bottom line. Heffalump Trump is trying to negotiate some better deals, but shorters see opportunity. The shorting in MLX is heavy, and that tends to mean that there will be a big burn of them before long. There are so many they will not be able to cover and prices will roar up. Meanwhile contrarians will buy. Thing to remember is $A is down and this will moderate any price fluctuation in $US.
MLX Price at posting:
68.5¢ Sentiment: Hold Disclosure: Held
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