And so it should with March 2024 Cu Y80,803 on the SHFE (Shanghai Futures Exchange) which converts to $5.38 US. However, the LME is less. A midpoint is USD$4.82/ lb.
The Cu in Shanghai will be higher because there is a carry cost from Y to USD since the Yuan is weak and (Chinese) people aren't going to be allowed to sneak their money out that way.
As it is they're buying plenty of gold.
All IMVHO.
And so it should with March 2024 Cu Y80,803 on the SHFE...
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