@sol1, Just posted this on DGR's pages.
Just read the article from the Financial Times re: what Trafigura said:
"Copper is today running with inventories that cover 4.9 days of global consumption and is expected to finish this year at 2.7 days according to its own forecast. Copper stock are usually covered in w e e k s."
"Considering the copper shortage that is happening now,..is it going to be more than $15,000. Time will tell.
"By $15,000 they mean per tonne of copper.
Makes a lot of sense to me - the direction if not the number. Also explains the SP strength of RXM (to me).
Let's just say the buyers are knowledgeable.
All IMVHO.
Who is going to get a bargain!, page-175
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Last
45.5¢ |
Change
-0.005(1.09%) |
Mkt cap ! $356.3M | |||
| Open | High | Low | Value | Volume |
| 45.5¢ | 46.0¢ | 45.5¢ | $656.5K | 1.435M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 4878973 | 45.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 46.0¢ | 2631974 | 21 |
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| Last trade - 16.10pm 04/09/2024 (20 minute delay) ? |
| RXM (ASX) Chart |