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The Copper Journal Weekly Reports Weekly reports / charts

Mar 15

John Gross

It’s A Miracle!

There is no other logical explanation for the miraculous appearance of 74,650 metric tonnes of copper into LME warehouses in 48 hours.

Just like that – 164,574,883 pounds shows up out of nowhere. To put this into perspective, it would take 3,740 trucks to carry the load, or 914 railroad box cars, each with 180,000 pounds of capacity.

Let’s see, a railroad box car is about 56 feet long...

Mar 8

John Gross

Home Depot

Most people go there, or to Lowes, or another store when they need to buy something for around the house.

Me, I go there to look at all the copper related things on the shelves.

Maybe that’s why my good mother, on more than a few occasions said to me, “John, you’re an odd duck”.

Anyway, I usually start in the plumbing department where they have copper tube ranging from 12 inches to....

Mar 1

John Gross

Where's The Metal?

A few weeks ago, we looked at total inventories of all metals held in exchange warehouses, and it is timely to revisit the analysis again.

So take a look at the first chart in this week’s report, because it is an eye opener.

In 2013, inventories of copper, aluminum, lead, tin, nickel, and zinc were just a tad shy of 8 million metric tonnes.

As you can see, today, these stocks stand at just...

Feb 22

John Gross

Here Is The Problem:

Continued negative headlines tell us that markets should be falling, but markets must be suffering from dyslexia, because they continue rising.

Two recent articles underscore this dilemma.

This week’s Barron’s Commodities Corner was entitled ‘Will Copper’s Revival Last?’

One person with a Bullish view expects consumption to rise...

Feb 15

John Gross

Coming Into Alignment

Well, the stars we are not too sure of yet, but the analyst community is clearly stepping up to the plate.

On Friday, February 4th, The Financial Times reported that Citi Bank expects copper to rally by 10% over the next 3-6 months.

On February 12th, Barron’s ran an article entitled ’Commodity Prices – and Producers’ Stocks May Have Fallen Too Far’. The article went on to say...

Feb 08

John Gross

What Are Friends For?

So, last week I get an email from a person that says, “I would like to subscribe to The Copper Journal so I can use it as a sleep aid”.

Nice huh?

I won’t identify that person, except to say his initials are M.W. – as in Mark Wlach.

My old friend Mark retired recently, after 42 years in the copper business.

Mark is one of those guys who started on the ground floor, literally, working at the Phelps Dodge...

Feb 01

John Gross

Climbing A Wall Of Worry?

That’s the way it seems these days.

And a sampling of recent headlines tells us there is much to be concerned about:

China’s Slowdown Hits Growth Globally
Export Weakness Drags On Eurozone
Chances Of Recession Are Rising
President Trump Doubts Agreement Can Be Reached With Congress on Border Wall
French Employers And Others Warn On No-deal Brexit Chaos

Despite these dire warnings, equities continue rising, with the S&P 500 posting the best January in 30 years...