The AUD Copper chart has formed a pennant pattern and likely to push above AUD$17,000/tonne within the next 12 to 18 months. Could be sooner but time will tell. Currently bullish trading above the 50MA
What are the factors that could make this happen?
End of the Russian / Ukraine War.
Low Cu inventories in the LME, COMEX, SFE leading to restocking of the exchanges.
Lack of investment in the copper space.
Lower grades in South America and water supply issues.
Transition to green energy. EV's, wind energy, solar installations, battery storage etc.
China Warehouse Stock: Shanghai Future Exchange: Copper data was reported at 28,086.000 Ton in 09 Jan 2023. This records an increase from the previous number of 27,298.000 Ton for 06 Jan 2023.
CYM currently trading at 13c
The AUD Copper chart has formed a pennant pattern and likely to...
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Last
4.4¢ |
Change
0.002(4.76%) |
Mkt cap ! $67.08M | |||
| Open | High | Low | Value | Volume |
| 4.1¢ | 4.4¢ | 4.1¢ | $164.2K | 3.856M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 867805 | 4.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 4.4¢ | 634685 | 3 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| CYM (ASX) Chart |