- Joined
- 12 January 2008
- Posts
- 7,585
- Reactions
- 19,065
Any premium in the US copper price over the LME has now gone. Dr copper predicting world-wide recession.
Sean K
Moderator
- Joined
- 21 April 2006
- Posts
- 22,999
- Reactions
- 12,614
I'm not sure if the Apache's will trump this, but possibly.
Also not sure if this will affect the upcoming grand supply/demand shortfall that will push copper prices much higher.
A long-delayed copper project in Arizona controlled by Rio Tinto and backed by BHP has been fast-tracked by the Trump White House as the US and China vie for supremacy in the minerals vital to the energy transition and advanced military hardware.
Tied up in environmental and court appeals, native title and regulatory red tape for more than a decade, the Resolution Copper mine is among a handful of 10 projects granted ‘‘Fast-41’’ status by the White House over the Easter weekend.
The application of Fast 41 to streamline the approvals process behind critical minerals production is in response to President Donald Trump’s executive order, issued in March, aimed at creating jobs, fuelling American prosperity and significantly reducing the US’s reliance on foreign powers.
The proposed underground mine, around 100km east of Phoenix, Arizona, is expected to become the largest copper mine in North America, capable of meeting up to 25 per cent of total US copper demand each year.
As the trade war between the US and China heats up, both nations are keen to access key commodities such as copper, which is used in aircraft, naval vessels, wiring for guidance systems and ammunition, as well as being core to renewable energy technology and batteries.
Also not sure if this will affect the upcoming grand supply/demand shortfall that will push copper prices much higher.
A long-delayed copper project in Arizona controlled by Rio Tinto and backed by BHP has been fast-tracked by the Trump White House as the US and China vie for supremacy in the minerals vital to the energy transition and advanced military hardware.
Tied up in environmental and court appeals, native title and regulatory red tape for more than a decade, the Resolution Copper mine is among a handful of 10 projects granted ‘‘Fast-41’’ status by the White House over the Easter weekend.
The application of Fast 41 to streamline the approvals process behind critical minerals production is in response to President Donald Trump’s executive order, issued in March, aimed at creating jobs, fuelling American prosperity and significantly reducing the US’s reliance on foreign powers.
The proposed underground mine, around 100km east of Phoenix, Arizona, is expected to become the largest copper mine in North America, capable of meeting up to 25 per cent of total US copper demand each year.
As the trade war between the US and China heats up, both nations are keen to access key commodities such as copper, which is used in aircraft, naval vessels, wiring for guidance systems and ammunition, as well as being core to renewable energy technology and batteries.
- Joined
- 12 January 2008
- Posts
- 7,585
- Reactions
- 19,065
When is production due to commence on this project in Phoenix?
Sean K
Moderator
- Joined
- 21 April 2006
- Posts
- 22,999
- Reactions
- 12,614
Dona Ferentes
Ce fut, je vous assure, bien malgré moi
- Joined
- 11 January 2016
- Posts
- 19,301
- Reactions
- 26,359
and a bit of a spike in copper.
There was a fatal accident at the massive Antamina copper and zinc mine in Peru A senior manager was killed, another worker injured, and the whole operation has been shut down for an indefinite period.
The mine is run by BHP, Glencore, and Teck, and with the mine producing over 400,000 tonnes last year, experts say any long pause could squeeze global copper supply.
There was a fatal accident at the massive Antamina copper and zinc mine in Peru A senior manager was killed, another worker injured, and the whole operation has been shut down for an indefinite period.
The mine is run by BHP, Glencore, and Teck, and with the mine producing over 400,000 tonnes last year, experts say any long pause could squeeze global copper supply.
Dona Ferentes
Ce fut, je vous assure, bien malgré moi
- Joined
- 11 January 2016
- Posts
- 19,301
- Reactions
- 26,359
Jon Barnes, copper analyst at market intelligence firm Project Blue, estimates that the copper demand boost from higher military spending is about 500,000 tonnes per year, or about 1.5 per cent of annual demand. The exact amount is difficult to quantify due to the secrecy surrounding national weapon stockpiles.
Russia’s war in Ukraine illustrated how existing ammunition stockpiles were “far too low”, particularly for artillery shells, he noted.
“US production of 155mm standard artillery rounds doubled last year, and will double again this year, both to supply Ukraine and to replenish strategic reserves,” said Barnes, noting that each shell contained up to 1kg of copper. Bullets and shells are often made of brass, an alloy of copper and zinc.
David Goldman, head of trading at the Novion Global brokerage, estimated that rising defence budgets and rearmament were increasing the copper demand from western militaries by between 15 and 18 per cent per year. This was a “critical factor underpinning the metal’s market tightness and long-term demand outlook,” he added.
Yet a report from the Carnegie Endowment think-tank in February found that mineral inventories in the US National Defense Stockpile had dwindled since the 1950s, and would cover less than half the military demand in a hypothetical one-year conflict.
..
from a FT article
Russia’s war in Ukraine illustrated how existing ammunition stockpiles were “far too low”, particularly for artillery shells, he noted.
“US production of 155mm standard artillery rounds doubled last year, and will double again this year, both to supply Ukraine and to replenish strategic reserves,” said Barnes, noting that each shell contained up to 1kg of copper. Bullets and shells are often made of brass, an alloy of copper and zinc.
David Goldman, head of trading at the Novion Global brokerage, estimated that rising defence budgets and rearmament were increasing the copper demand from western militaries by between 15 and 18 per cent per year. This was a “critical factor underpinning the metal’s market tightness and long-term demand outlook,” he added.
Yet a report from the Carnegie Endowment think-tank in February found that mineral inventories in the US National Defense Stockpile had dwindled since the 1950s, and would cover less than half the military demand in a hypothetical one-year conflict.
..
from a FT article
- Joined
- 12 January 2008
- Posts
- 7,585
- Reactions
- 19,065
General article on the outlook for copper at Livewire. @Sean K something to read while drinking.
Justin Lin - Global X ETFs (WIRE)
Justin Lin - Global X ETFs (WIRE)
- Joined
- 19 October 2005
- Posts
- 5,759
- Reactions
- 8,849
Market Matters this morning
marketmatters.com.au
/report/portfolio-positioning-fears-increase-that-the-us-will-join-the-middle-east-conflict/
LME 3-Month Copper ($US/MT)
"Copper (Cu) buyers are facing a major squeeze on the London Metal Exchange (LME), with the price of spot contracts spiking as traders compete to get hold of the dwindling volume of metal in the exchange’s warehousing network. Contracts expiring in one day just traded at the largest premium since a historic supply squeeze in 2021. The spike in spot contracts, known as a backwardation, is a sign that there isn’t enough metal in exchange warehouses to meet traders’ needs. It follows the dramatic 80% drop in readily available LME stockpiles this year. Cu’s advance has been orderly in recent weeks, but we believe a squeeze could be in the offing.
Fears that President Donald Trump will soon impose tariffs on Cu are driving the disconnect, with mid-July the touted timing for the tariffs, with 25% the favoured number by many.
We continue to believe it’s a matter of when, not if, Cu breaks above $US10,000/MT.
WIRE
MM bullish towards Cu medium/long term"
Market Matters | Leading Australian Stock Market Views And Advice
Get the latest Australian stock market views from top investors with real money in the markets. ASX investment advice and share recommendations. Find out more.
marketmatters.com.au
LME 3-Month Copper ($US/MT)
"Copper (Cu) buyers are facing a major squeeze on the London Metal Exchange (LME), with the price of spot contracts spiking as traders compete to get hold of the dwindling volume of metal in the exchange’s warehousing network. Contracts expiring in one day just traded at the largest premium since a historic supply squeeze in 2021. The spike in spot contracts, known as a backwardation, is a sign that there isn’t enough metal in exchange warehouses to meet traders’ needs. It follows the dramatic 80% drop in readily available LME stockpiles this year. Cu’s advance has been orderly in recent weeks, but we believe a squeeze could be in the offing.
Fears that President Donald Trump will soon impose tariffs on Cu are driving the disconnect, with mid-July the touted timing for the tariffs, with 25% the favoured number by many.
We continue to believe it’s a matter of when, not if, Cu breaks above $US10,000/MT.
WIRE
MM bullish towards Cu medium/long term"
Dona Ferentes
Ce fut, je vous assure, bien malgré moi
- Joined
- 11 January 2016
- Posts
- 19,301
- Reactions
- 26,359
- Joined
- 28 May 2020
- Posts
- 7,246
- Reactions
- 14,145
Had a call from the Practice manager at he Medical facility at which I had an appointment this morning.
They had to cancel because overnight, some low life had cut all the copper pipes for both water and gas and made off with them.
At least they turned both supplies off at the meter before cutting.
obviously scrap copper s worth going to jail for.
Mick
They had to cancel because overnight, some low life had cut all the copper pipes for both water and gas and made off with them.
At least they turned both supplies off at the meter before cutting.
obviously scrap copper s worth going to jail for.
Mick
- Joined
- 8 March 2007
- Posts
- 3,392
- Reactions
- 4,737
Copper on Building Sites has always been a Problem since the 1960's and even Timber
Irrelevant of its price---
That's why Builder's take out insurance with the Bikies /Mafia /and Unions
Irrelevant of its price---
That's why Builder's take out insurance with the Bikies /Mafia /and Unions
- Joined
- 28 May 2020
- Posts
- 7,246
- Reactions
- 14,145
- Joined
- 12 January 2008
- Posts
- 7,585
- Reactions
- 19,065
Copper is popping! Now above 5.00 /lb
- Joined
- 19 October 2005
- Posts
- 5,759
- Reactions
- 8,849
Murray Dawes gets round to discussing the technicals and rationale for copper and some other commodities in this fat tail video from yesterday: copper, platinum, uranium. With regard to hybrid vehicles: interesting claim made that they use more catalytic conversion metak (Pt or Pd) than straight ICE cars coz hybrids run cooler? I think @houtman said a fair while back that he was parking some funds in either platinum or palladium in preference to cash - seemed a good idea at the time but I didn't act on it myself.
- Joined
- 19 October 2005
- Posts
- 5,759
- Reactions
- 8,849
Market matters this morning
marketmatters.com.au
/report/portfolio-positioning-mm-is-looking-to-tweak-portfolios-into-fy26/
WIRE Not Held by me
MM bullish towards Cu medium/long term
Market Matters | Leading Australian Stock Market Views And Advice
Get the latest Australian stock market views from top investors with real money in the markets. ASX investment advice and share recommendations. Find out more.
marketmatters.com.au
WIRE Not Held by me
Copper Futures Dec’25 ($US)
Copper tried and again failed to mount a meaningful break above $US5.20 helped by the weak $US. At one stage copper hit a three-month high, boosted by buying on signs that factory orders in China are recovering, benefiting from the truce in the trade war with the US. Ultimately, MM believes this will propel industrial metal to new highs – just a matter of time.- We continue to believe it’s a matter of when, not if, Cu breaks out to fresh highs, but the $US5.20 level is proving a formidable barrier.
MM bullish towards Cu medium/long term
- Joined
- 8 March 2007
- Posts
- 3,392
- Reactions
- 4,737
WIRE ? WHAT A JOKE! UNSEAWORTHY IMHO and Yes we HoldMarket matters this morning
/report/portfolio-positioning-mm-is-looking-to-tweak-portfolios-into-fy26/Market Matters | Leading Australian Stock Market Views And Advice
Get the latest Australian stock market views from top investors with real money in the markets. ASX investment advice and share recommendations. Find out more.
WIRE Not Held by me
Copper Futures Dec’25 ($US)
Copper tried and again failed to mount a meaningful break above $US5.20 helped by the weak $US. At one stage copper hit a three-month high, boosted by buying on signs that factory orders in China are recovering, benefiting from the truce in the trade war with the US. Ultimately, MM believes this will propel industrial metal to new highs – just a matter of time.
WIRE
- We continue to believe it’s a matter of when, not if, Cu breaks out to fresh highs, but the $US5.20 level is proving a formidable barrier.
MM bullish towards Cu medium/long term
If you look at the Market Depth everyday you will Find it is Illiquid
ie There is No Market except for the MARKET Maker with his/herself 25,000, 12,000, 13,,000 volume Orders and Offers
Good luck
- Joined
- 19 October 2005
- Posts
- 5,759
- Reactions
- 8,849
Well as you should have noticed Cap'n I am not in WIRE, I trust in BHP for copper exposure. I might buy some EVN if it gets down enough.
- Joined
- 8 March 2007
- Posts
- 3,392
- Reactions
- 4,737
We also fly 3 x SFR Heavyweights and Only ONE (1) WIRE before I realized "The Construction of Thought"
ie: The BIG CON
ie: The BIG CON
- Joined
- 11 May 2025
- Posts
- 921
- Reactions
- 1,051
RIO is being Spruiked By wealth Within on Youtube as a Copper play.....Any Thoughts?
- Joined
- 12 January 2008
- Posts
- 7,585
- Reactions
- 19,065
Copper spikes and I go WTF?
Then I read. . .
Yep, that'll do it.
Then I read. . .
Yep, that'll do it.
