Overnight we learn there will be nil US tariffs on copper imports, though uncertainty continues as they 'may' be imposed later.
The big buying in recent weeks by US copper users will now be unwound, with all those players now seeking to front-run the price equalisation.
People talk of volatility in reference to price falls - rises are attributed to traders' skill.
Well, we are about to see volatility. There will be much idle gesturing at China weakness, market manipulation and 'Critical Minerals' (I loathe that phrase).
This spasm will pass. The mismatch of copper supply/demand that lies ahead still stands. The world cannot electrify without giant volumes of copper.
Those quick on their feet will make big money through this. Are you one of them?
Ash
SFR Price at posting:
$9.55 Sentiment: Buy Disclosure: Held
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