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The Copper Journal Weekly Reports - pg 1. Weekly reports / charts

Dec 27

John Gross

A Tipping Point?

Too early to tell, but it looks like copper’s stars may be coming into alignment.

A few points to ponder –

  • Copper closed at $ 2.8365 on Friday, marking its 4th consecutive weekly gain, and taking Big Red to an eight month high.
  • After hitting a low of $2.47 in September, copper has risen 37¢ or 15% since then.
  • The month started with Dec / Mar at a 1.80¢ contango, which diminished to just 5 points on the 13th, before going...
Dec 20

John Gross

Steady As She Goes...

Overall, it’s been a couple of good weeks for the markets, with support lines continuing to hold, and prices still advancing.

Copper closed out the week at $2.81, a seven month high, and is well above its 52 week moving average.

The rest of the nonferrous metals are also looking...

Dec 13

John Gross

A Disorderly Market?

As relates to nickel, that’s the way it appears.

Last week, inventories of nickel held in LME warehouses rose 54,342 mt, (worth about $770 million) or nearly 80% to 123,228 mt.

Oddly enough, the price also rose last week...

Dec 6

John Gross

Navigating The Bermuda Triangle...

That’s pretty much the way it felt last week.

The trade war widened, as President Trump proposed new tariffs on goods from France; duties on steel and aluminum from Brazil and Argentina, and also suggested that he “liked the idea of waiting until after the election” to reach a deal with China.

As might be expected, equity markets around the world were less...