cash copper above $a4100/t

Even with the recent wild daily swings in the copper market cash copper prices are $A4150 a tonne and 3 month copper is almost $A4000.

Current trends indicate consolidation of price in the higher channel as producers lock in some future gains.

LME stocks continue to fall, most recently at 235kt.

I expect on current drawdowns that the LME stocks will be exhausted by June, and that copper could reach $US2.00 a pound by end of the year.