Yes Phil, my AVB fuelled SMSF is killing the industry funds this year and will for many years to come. Your US$2.20 March prediction was way off by the way, hit US$2.295 again overnight. Will your annual target of US$2.50 make it? Certainly not impossible if inventory levels maintain their trend.
With Copper up further overnight and surprise, surprise the LME inventory levels shrunk further. Some people keep focussing on the fact that China inventories are supposedly growing and that China represents 40% of world consumption. I'll keep focussed on the fact that the available copper outside China is almost at historic lows and rest of world consumption represents 60% of overall consumption.
Copper and hence AVB valuation measured in A$ is actually up considerably over the past few days.
Here is another little titbit to throw into the mix: A potential disruptor that could send copper back to that US$2.50 target. From a country that supplies 30% of world production. Wonder why China is accumulating?
Chile's Supreme Court backs workers' right to strike
SANTIAGO
Chile's Supreme Court has upheld a ruling that declared it illegal to dismiss workers for striking outside of a formal collective bargaining process, a decision that could have ramifications for future labour disputes.
The ruling is potentially significant for mining companies in the world's top copper exporter, which in the past have dismissed and replaced workers after unauthorized strikes without legal repercussions.
It comes at a time when businesses are already girding for increased costs due to a wide-sweeping labour reform making its way through Congress, set to give unions more power.
In the decision late Monday, the Supreme Court affirmed the judgement of a lower appellate bench that had overturned the dismissal of two call center workers after they led their colleagues in a walk-off.
"If striking is a fundamental right, then the business measures that limit it, like replacing striking workers...must be seen as schemes that should be eliminated," the appeals court said in its original October ruling.
One of the most hotly debated aspects of the upcoming labor reform legislation is a provision that would make replacing striking workers more difficult. The bill is opposed by business leaders and the right-wing opposition, and centrist members of the governing coalition have baulked at key aspects, repeatedly delaying its passage.
Multiple sections of the bill are expected to face a legal challenge from a tribunal that rules on the constitutionality of pending legislation, lawyers say.
Will your annual target of US$2.50 make it? Certainly not impossible if inventory levels maintain their trend.
