Copper trading this morning at $US5.20lb according to TradingEconomics.
Is this a spike or a new normal?
US players are vaccuming up all available supply ahead of Trump's Cu tariff. That metal is gone as the US cannot immediately produce enough to enjoy the benefits of the new settings. Rest of the world manufacturers will struggle to keep their supply chain schedules intact, with serious price implications - buy at market or halt production.
For unhedged A1M, the FCF benefits are vey welcome.
This moment also benefits its negotiations to finance the new concentrator complex as banksters will be more flexible on terms. AC hasn't liked their conditions enough to commit yet. Perhaps he will now, or soon when this new price looks durable.
Ash
A1M Price at posting:
41.5¢ Sentiment: Buy Disclosure: Held
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