* Earthquake in chile two days ago will effect supply from largest producing copper mine
* Chile's revised forecast for copper supply 1 month ago pre earthquake was cut back 10%
* Evidence of China slowdown pre Olympics holds true as as teh copper price fell from Juen to August and key warehouse supplies to watch is teh Shanghai inventory levels which only this week started diminishing meaning ramp up in china production, once supplies are diminished expect China to start buying into market again
Above three factors hopefully result in the copper price maintaining its long term uptrend which is still in tact using a three year chart. Now if opper can rise to 3.4, Cobalt sneaking up and breaks $40 adn teh aus at 0.80, we are very close to the estimates put forward in Neil's financial model.
CMR Price at posting:
58.5¢ Sentiment: Buy Disclosure: Held