This time around, we haven't got to the depths of previous CMR " corrections ". From highs to lows, we've gone from : $1.79 on 210905 to $1.00 on 221105 $4.38 on 100506 to $2.14 on 140606 $6.25 on 210207 to $4.08 on 290607, so far. Guess we just need to be aware of what it's capable of doing. One thing that might take a while to show up in metals demand is the 2008 Beijing Olympics. Previous cities have had big programs of buildings and infrastructure that were mostly completed a year before the start, which is where Beijing is now. If they haven't ordered it by now, it's too late. Then again, China is so enormous they will probably just keep going. Only saw Yunnan province a few years ago and that was amazing. The China effect will be with us for a long time, IMO.
CMR Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
