It's well known that China has been pulling in huge amounts of commodities...partly demand but the Finance Minister has announced that they need a hedge for a falling US$ (US$1 Trillion in reserves)
That was the 1st leg.
Now the USA seems to be recovering to mildly +ve growth. USA is still the largest consumer of copper (China is 2nd) and that is holding Cu prices.
So you had a champion running the first leg, now you have the largest nation running the second...
Why do management take a view that there will be a sharp correction? Their job is to run the company...they can hedge price movements.
I want someone's resignation if they get the call wrong...should base metals stay strong into 2010.
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Last
80.5¢ |
Change
-0.005(0.62%) |
Mkt cap ! $75.63M | |||
| Open | High | Low | Value | Volume |
| 81.0¢ | 81.5¢ | 80.0¢ | $8.394K | 10.43K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 16041 | 80.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 83.5¢ | 8387 | 1 |
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| Last trade - 15.06pm 08/08/2025 (20 minute delay) ? |
| ABY (ASX) Chart |