copper price due for massive correction!, page-7

I could be wrong, but imo people are looking out a few years with the poc, looking beyond the current (modest) stockpile, and seeing poc as a store of tangible value bridging what could be a turbulent couple of years.

Sure China might not be a great buyer atm, because they were smart enough to build a stockpile in the firesale a year ago, and China may have a big enough stockpile to moderate any future spikes, but they can't do anything much about declining grades and rising mine development costs globally. And if they and others are to attain our level of material affluence then that is a hell of a lot of new lower grade mines that are going to need to be developed.

I wouldn't bet of the poc staying at this level, but nor would I bet against further rises. For most of nearly three years copper had found a new price range, and I am not yet convinced that was wrong, nor that the copper consuming part of the world is too different, now that a new normal is returning.

Just opinion, and as Mission says we've had doomsdayists since the 20's. Nevertheless at this sp my sentiment is only a (genuine) hold, not a buy.

EL