Better be quick guys.
Headline stocks of copper in LME-registered warehouses fell to 112,725 tonnes, the lowest since May 2008Tokyo — China will produce 8.85 million mt of copper in 2019, up 4.8% on the year, while demand is seen up 3% at 11.5 million, generating a deficit of 2.65 million mt which will be covered by imports, consultancy Beijing Antaike Information forecast.
The big guy in the States, yes that guy with all the bad press is nearing a deal, which IMHO which will see China agree to something seen as impossible just 6 months ago. Structural changes to Chinese economic policies Technology transfers. Economic discrimination. Government support.
The structured (IMO) NK deal walk will have cemented China’s new acceptance of non-compliance penalties too!. So what’s all this for OZL ? can’t put a number on that, but I expect copper to whoosh through $7000.
Time will tell.
Cheers
Phil.
Better be quick guys.Headline stocks of copper in LME-registered...
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