Copper can easily fall to $1 or below. Obviously it wont stay...

Copper can easily fall to $1 or below. Obviously it wont stay low forever , however in the meantime many companies will go broke and PNA could be one. As to when copper may start rising I have no idea. We are currently experiencing the most unbelievable period in the markets I have ever seen in over 30 years. Fundamentals mean nothing and logic means nothing. There is only one safe place to be and that is in cash.

What the optomists are failing to see is that demand is falling and still falling and stock piles are also rising so the outlook is bleak. Also the larger companies such as BHP ca continue to produce at a loss as they have other profitable commodities such as Oil,Iron Ore and Coal. Unfortunately however a company like PNA which only produces copper has no other source of cash flow so one the copper price gets down to their cost of production they are in big trouble.

I see no reason for the trend to change over the next few months. So far i have not seen any articles where copper production is being cut in any significant way. Mine shutdowns have been occurring in nickel and zinc for a few months yet these metals are still trading at there lows. The copper price did not collapse until many months after nickel and zinc and as such will probably recover later than nickel or zinc. I see nothing on the near term horizon that is positive for copper