And which daicos is god is the Father son and holy spirit

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pogoman50

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09/04/24

19:31

Post #: 73264821
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Originally posted by daicosisgod: ↑

I posted this on the AIS thread this morning. It is highly relevant to FFM.
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Another great night for Aeris commodities

Copper closed up again at US$4.30/Ib

Gold closed up again at US$2,336/oz

Zinc closed up again at US$2,670/tonne

What is exciting me more than the copper price is the volumes being traded. Back just three weeks ago I posted that the 65 day moving average of daily contracts was 76,616, that was on the 14th Mar’24. Today, barely three weeks later the contracts taken out today were 178,768 in number. That is a huge increase that has gradually built over the last three weeks. This demonstrates to me, very clearly, that the copper traders both buyers and sellers have finally taken on board all the evidence of a looming copper deficit of significant proportions.

I strongly believe everyone in this part of the copper supply chain is trying to get ahead of the deficit by locking in supply contracts right now. However the biggest and most important part of the the copper supply chain is stalling any action to bring more supply to the market. In fact supply continues to dwindle absent ant new mines actually producing. The part of the copper supply chain that is not working is the miners bringing on new mines. The key question is at what higher copper price will it take to get miners to commit the tens of billions of $$$$$$ to get the new big mines up and running. It certainly isn’t US$4.30/Ib. I reckon it is north of US$6.00/Ib

GLTAH

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And which daicos is god is the Father son and holy spirit

Last edited by pogoman50: 09/04/24

FFM Price at posting: 75.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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