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Meanwhile HCH can't even hold AU$1.25 SP (~$150m MC) with Cu...

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GeoSciFi

800 Posts.

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10/04/24

09:17

Post #: 73269860
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Originally posted by gc2016: ↑

AFR

Copper trades near 15-month high as Citi sees ‘explosive’ growth
1-2 minutes

China’s factory activity beat expectations in March, the latest sign of an economic recovery in the world’s largest copper user. Data showing increased spending also suggests domestic consumption is gathering pace.

During the bull market of the 2000s, copper rose more than fivefold in three years, driven by urbanisation and industrialisation in China. Citigroup said there’s potential for “explosive price upside” again in the next three years.

There’s been a series of production setbacks at mines around the world, which has compounded concerns around a lack of fresh supply. The dearth of new projects is “finally starting to bite,” Bank of America strategists said. The bank expects copper to average $US12,000 a ton by 2026.

Other base metals rose, with zinc adding as much as 2.4 per cent as Chinese smelters become the latest casualty of overcapacity in the country’s metals markets.

Bloomberg

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Originally posted by Jopie: ↑

I’ll take $6 per lb for US$3.2 Bln NPV in 2026 no worries.
10-15$ SP would be fun enuf.

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Meanwhile HCH can't even hold AU$1.25 SP (~$150m MC) with Cu rising above US$9000/t over the last week, bloody pathetic...

HCH Price at posting: $1.19 Sentiment: Buy Disclosure: Held
11 Upvote

2 Great analysis

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