I am curious whether we will get the results from Hardway tomorrow. That should be the case, I think. Maybe enough time to include "one or two slides" in the presentation for IMARC - the way I see Dan, he will probably work on "both" at the same time. Could be interesting.
The copper price is showing some signs of revival. No reason to be too euphoric. It seems the warehouses in Shangai have fallen, some support measures for the economy from the Chinese top and somehow the production outlook for 2024 is a bit lacking. Maybe not such a big surplus in 2024 after all? I think we would have to rise to prices above USD/lb 3.80 for the technical picture to brighten.
Then, however, the recent weak phase could turn out to be a bear trap. Anything above UDS/lb 4.00 before the end of the year would change the picture completely. We will probably test 3.80 and then fall back to make another attempt at 4.00 (and 5.00) in 2024. My opinion. Everything is quite unpredictable at the moment.
HMX Price at posting:
4.5¢ Sentiment: Hold Disclosure: Held
