I note that as of the close on Wall Street on Friday night the AUD copper price is now A$5.68/lb
Two weeks ago I had a long discussion with an international energy trader who is now working as a consultant on the Australian Renewable Energy Hub in the Pilbara. The discussion turned to copper and the LME. The trader said that no-one believed the LME in relation to its published physical copper holdings and related warrants. In his words he said “it’s all bullshit”.
Now this is a guy who lives and dies by what is happening in the energy market and related metals like cobalt, nickel, aluminium and copper.
Talking to someone at the economic decision making coalface does give one a different and hopefully more information view as to what is happening on the ground.
Despite still being under the water on AIS I am comfortable to maintain and I believe my copper thesis is intact.
Cheers……D
I note that as of the close on Wall Street on Friday night the...
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