Future outlook for copper is improving (Trading Economics 2023...

Future outlook for copper is improving (Trading Economics 2023 Data - 1988-2022 Historical - 2024 Forecast -)
Copper futures were above $3.6 per pound, remaining above the four-month low of $3.56 on October 5th, supported by optimistic industrial demand and supply concerns. Improved PMI data from China underpinned robust industrial activity, aligning with recent bets from JPMorgan that forecasted high infrastructure construction in the world’s top copper consumer. The results drove the Yangshan copper premium, a gauge measuring buyers’ willingness to pay beyond LME benchmarks for physical deliveries, to rise to its highest since 2022. Looming shortage concerns in the longer run also supported prices. Reports from S&P Global and the EIA project copper demand to double from the current levels by 2035, missing the International Copper Association’s forecasts of a 26% increase in supply, and raising concerns of wide shortfalls. In the shorter term, output from Codelco sank by 14% in the first half of the year, stretching the 7% decline from 2022.

The Chart

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1D

3.6003.80043.7003.900

3.9398

Oct 18 2023

JunJulAugSepOct

3.589

	Price			Day	Month	Year	Date
Gold	1924.21		8.29	-0.43%	-0.39%	16.71%	10:01
Silver	22.634		0.068	-0.30%	-2.49%	21.26%	10:01
Copper	3.5874		0.0074	0.21%	-5.36%	4.34%	10:01
Steel	3,586.00		3.00	0.08%	-3.65%	-6.08%	Oct/13
Iron Ore	116.50		-0.50	-0.43%	-4.51%	20.73%	Oct/13
Lithium	166,500.00		0	0%	-10.24%	-69.02%	Oct/13
Platinum	881.03		12.53	1.44%	-2.78%	-1.97%	Oct/13

All looking great with the recent 40%+ increase in resources at Woodlawn.
Go Go DVL.