What scares me about copper hitting $2.70 is that it might happen. We can see what has happened with thermal coal & stocks...mines closing in teh real world...and while analysts and Mining bosses are saying we are at bottom of the cycle for coal, it hasn't helped move the price, and so mines are closing down every where.
Understanding the fundamentals for copper makes it hard to imagine such a scenario happening but in the short term it might, and that would be very disappointing. So yeah - agree with you its hard to see such a scenario lasting for a year but then again...its been a horrible 3 years for emerging miners whether iron ore coal or copper of any other commodity, actually.
AVB Price at posting:
8.8¢ Sentiment: None Disclosure: Not Held
We can see what has happened with thermal coal & stocks...mines closing in teh real world...and while analysts and Mining bosses are saying we are at bottom of the cycle for coal, it hasn't helped move the price, and so mines are closing down every where.
