An article in Bloomberg from Goldman Sachs, emphasizes that the markets have over-reacted to the news from China, and they are positive about copper into the future. Warehouses have drawn down copper stocks to a relatively low level.
The selloff in copper has been “overdone” and they remain bullish on the metal although at a slightly lower price, but still strong and at aprice very profitable for Altona. They also say that while China's economy may slow, it is likely to be stronger than the headline figures suggest.
From some of the recent posts, do I detect a more optimistic and positive mood? Certainly Cardz is almost poetic with his appreciation of the rhythms of the dodecahedron. The Platonic Solids have their own mystique.
AOH Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
