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Market Oracle FREE Newsletter

Category: Copper

The analysis published under this category are as follows.

Commodities

Friday, September 27, 2019

More smelters, scrap metal ban driving Chinese copper imports / Commodities / Copper

By: Richard_Mills

Despite evidence of a slowing economy, shipments of raw materials are gliding across Chinese docks at a torrid pace, especially metals, which form the backbone of China’s industrial supply chain.

In fact a recent report shows that, while Chinese imports are down 5% compared to last year, and the trade war is hitting China’s manufacturing sector, imports of raw materials and ores “continue their seemingly perpetual upward trend.” 

A blistering trade 

MINING.com quotes BMO Global Commodities Research, the report’s author, saying that “In our opinion, while the trade war has caused many problems for China, it has not shaken the overall commodity business model of importing raw materials, having enough process capacity and ideally exporting a small amount of finished product as an inflation hedge.”

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Commodities

Monday, August 12, 2019

All Eyes On Copper / Commodities / Copper

By: Chris_Vermeulen

Copper is a fairly strong measure of the strength and capacity of the global economy and global manufacturing.  Right now, Copper has been under quite a bit of pricing pressure and has fallen from levels above $4.50 (near 2011) to levels near $2.55.  Most recently, Copper has rotated higher to levels near $3.25 after President Trump was elected on November 2016, yet has recently fallen as trade and global economic concerns become more intense.

This should be viewed as a strong warning sign that institutional traders and investors are very concerned that the future economic and manufacturing activities throughout the world are continuing to contract.  Copper is used in various forms throughout all types of manufacturing and consumer products, such as computers, building & infrastructure, electronics, chemical & medical use as well as automobile and aircraft manufacturing.  It makes sense that copper prices would be a leading indicator for much of the global economy and relate to economic output and capacity.

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Commodities

Wednesday, May 16, 2018

The Coming Copper Crunch / Commodities / Copper

By: Richard_Mills

Copper had one of it best years ever in 2017, rising 27% on the back of supply disruptions and steady demand from China, by far the largest copper consumer.

Commodities analysts are usually wrong about copper supply, always predicting a glut in the market for the ubiquitous metal used in everything from piping for plumbing to wiring in houses, to components of electric vehicles. What they fail to account for is the inevitable stoppages at the major copper mines due mostly to strikes and weather problems.

In 2017 however they were right. In January last year a collection of analysts - BMI, Goldman Sachs, Citigroup and TD - were all bullish on copper, saying that after a terrible 2015 and 2016, it would be the strongest performing metal of 2017 with predictions of up to $6,200 a tonne come mid-year. By the end of 2017 copper futures trading on the London Metal Exchange (LME) were at their highest in four years, $7,236.50 a tonne or $3.28 a pound. Copper wasn’t the best performing metal of 2017 (that would be cobalt) but it was third behind palladium. 

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Commodities

Tuesday, January 02, 2018

Copper Outlook at Critical Juncture and Implications for the Silver Price / Commodities / Copper

By: Metals_Report

Technical analyst Clive Maund delves into the reasons behind copper's recent rise and what that could mean for silver.

We have seen an unusually steady uptrend in copper this month that has resulted in it appreciating by about 10%, which might not sound like much, but makes a big difference if you are a producer with fixed costs. What is remarkable about this uptrend is not only that it came hard on the heels of a high volume smackdown in the early days of the month that at the time looked bearish, but that we have seen 16 days trading days in a row of higher closes as of the close of trading on Thursday, as can be seen on the 3-month chart for copper shown below. After doing some extensive research it has been discovered that the fundamental reason for this day after day seemingly interminable uptrend was that a prominent Chinese buyer, who has an old fashioned way of doing things, was walking over to the London Metals Exchange every day for weeks with his black briefcase in hand and buying roughly the same amount of copper.

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Commodities

Thursday, December 28, 2017

COPX Copper Miners ETF Big Base = Big Move / Commodities / Copper

By: Rambus_Chartology

COPX Copper miners etf, has finally made it back up to the top rail of an expanding flat top triangle which is consolidating the June rally. The 20 day ema has just crossed back above the 50 day ema which is giving us a buy signal.

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Commodities

Friday, September 01, 2017

Copper Strong, Good News for Chile, Bad News for the US / Commodities / Copper

By: Metals_Report

Technical analyst Clive Maund analyzes why the rising copper price is good news for Chile.

Copper is looking strong, apparently due in part to China stockpiling it, and this of course augurs well for the Precious Metals, especially silver, as copper "shows the way," which is why it is known as Dr. Copper. As we can see on its 5-year chart, it has already broken out of a Head-and-Shoulders bottom to enter a bullmarket. Right now it is overbought and has resistance to work its way through, so periods of consolidation are to be expected.

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Commodities

Monday, July 03, 2017

Copper New Intermediate Cycle : Bullish / Commodities / Copper

By: SurfCity

Copper confirmed a new Intermediate Cycle this week with a breach and close above my Red Yearly Cycle Down trend line (see first two charts). Given that this last Yearly Cycle was extremely Right Translated, cycle methodology would indicate we should expect Copper to make new highs in the year ahead of us.

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Commodities

Monday, March 27, 2017

... / Commodities / Copper

By: OilPrice_Com

...

 


Commodities

Saturday, March 04, 2017

Copper Confirms the Negative Outlook for Precious Metals and Crude Oil / Commodities / Copper

By: The_Gold_Report

Looking at the charts, technical analyst Clive Maund sees copper "riding for a fall."

We have already observed how oil and precious metals are looking set to turn lower, especially oil, and the medium-term bearish outlook for these commodities is confirmed by the negative setup that we will now examine on the latest charts for copper. Ordinarily we are not all that interested in copper, because there are few suitable trading vehicles we can use to play it, so our interest is mainly due to its implications for other markets.

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Commodities

Saturday, February 11, 2017

Dr. Copper on Call for Gains / Commodities / Copper

By: Mike_Paulenoff

Copper (made a new 18-month high on Friday, breaking out of a 10-month sideways bullish digestion zone that formed atop its 5-year down trendline at 2.48. Copper is poised for upside continuation to 3.00 next.

Let's notice that the strong recovery in Copper has coincided with a powerful upmove in 10-year Yield (lower chart).

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Commodities

Friday, November 18, 2016

Copper - When the Pendulum Swings / Commodities / Copper

By: The_Gold_Report

Precious metals expert Michael Ballanger equates the position of the financial markets to that of a protagonist in a classic horror story and reflects on recent moves in the copper market.

One of the greatest pastimes I enjoyed as a youth was reading books, and until adolescence, when I began to focus on history, my favorite reading genre was horror. Mary Shelley's "Frankenstein," Bram Stoker's "Dracula,” and "The Mummy" by Anne Rice were all books that resided in the bookshelf in our family room.

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Commodities

Saturday, November 12, 2016

Copper Price Forecast – Is Copper Ready To Start A New Bull Market In 2016? / Commodities / Copper

By: InvestingHaven

We have covered the copper market extensively in recent weeks. As the price of copper has truly gone balistic this week, it justifies another commentary with our view on where exactly copper stands, and where it can go from here. In other words, is the copper price forecast that bullish that it suggests a new bull market has started in 2016?

MarketWatch is one of the few media outlets that provided some (positive) coverage on copper today. Their article implicitly suggests a bullish copper price forecast for the remainder of 2016: “Copper futures, meanwhile, saw a weekly climb of nearly 11%, which was the largest in over five years, as traders bet that policies expected to be pursued by Republican Donald Trump’s administration could feed demand for industrial metals.” Though fundamental data, as brought forward in their piece, does not carry too much value in our opinion, we agree with their viewpoint.

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Commodities

Wednesday, June 22, 2016

Are Copper and China Stocks Set to Rally? / Commodities / Copper

By: The_Gold_Report

Technical analyst and newsletter writer Clive Maund explores the link between an anticipated copper rally and an upswing in Chinese markets.

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Commodities

Thursday, March 03, 2016

What Is Copper Telling Us? / Commodities / Copper

By: Dudley_Baker

I am going to keep this piece, short and sweet as I believe the charts below will speak volumes about where we are in these markets and more importantly, where we are heading.

The world seems to be on the verge of a meltdown but, if so, why are some of the commodities telling a different story?

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Commodities

Tuesday, February 23, 2016

Copper: The Next Metal Set To Rise After Gold? / Commodities / Copper

By: InvestingHaven

The copper market is getting excited! After a drop of +50% since it peaked in 2011, copper has basically gone only one way, i.e. down (just not in a straight line).

Now, copper is showing a similar setup as gold two months ago, right before gold rose sharply higher. Copper’s chart setup makes it very interesting, because sentiment is so negative nowadays: economic growth is slowing (driven by China), the interest rate hike was followed by talks about coming negative interest rates, companies are reporting rather poor earnings, manufacturing data are not very encouraging, … The list is endless, so everyone and his uncle is convinced that copper can only go one direction, i.e. down. That’s exactly the moment when magic happens in markets, as prices tend to move in the opposite direction, but that’s only a  benefit for the sharpest investors as 99% has given up already.

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Commodities

Saturday, January 30, 2016

The Curious Case of Copper... / Commodities / Copper

By: Clive_Maund

I recently watched a movie called The Curious Case of Benjamin Button which some of you may have seen. In this film the lead role, played by Brad Pitt, is born as a decrepit old man and gets steadily younger until he eventually died of old age as a baby. To say that it's ridiculous is the understatement of the millennium. Yet many people come away from watching this film thinking "How wonderful, if we all kept getting younger!" As a contrarian I instead found myself wondering about the catastrophic effect on the cosmetics industry, as the market for anti-aging creams would collapse.

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Commodities

Sunday, November 22, 2015

Long Dollar Trade and Current Copper Price Below Cost of Production / Commodities / Copper

By: EconMatters

Long Dollar Trade

One of the common trades in financial markets these days is going long the US Dollar and shorting Commodities, especially the precious and industrial metals. This has been a bad year for commodities, and this trade has picked up steam with large fund flows the last 6 weeks.
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Commodities

Thursday, November 12, 2015

Copper Monthly, Aussie Jobs Soar, but Capex far from Done / Commodities / Copper

By: Ashraf_Laidi

It's not the first time an Australian jobs report shows employment growth rise five times more than expected. Whether it will be revised downwards or not, it is undoubtedly reflecting partial strength in the nation's labour market. Australia added a net 58.8K jobs in September; over four times expectations, the highest increase in 3 ½ years and the 3rd biggest jump over the last 15 years. Remarkably, 40K of the 58.8K increase emerged from full time jobs, while only 18.6K was from part time employment. The 231.7K increase jobs in the first 10 months of the year showed the its biggest annual gain since 2010.

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Commodities

Thursday, October 08, 2015

Dr Copper Back from the Dead - Time to Buy or Blink / Commodities / Copper

By: Sol_Palha

Anxiety is a thin stream of fear trickling through the mind. If encouraged, it cuts a channel into which all other thoughts are drained.Arthur Somers Roche

Once upon a time, in the good old days, before QE changed everything, any signs of strength from copper could be construed as a sign that the economy was on the mend.  After QE, this story came to an end, and a new reality came into play.  The Fed manipulated the markets in favour of short-term gains through what could be determined as borderline illegal monetary policy; a policy that has maintained an ultra-low interest rate environment that favours speculators and punishes savers.

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Commodities

Sunday, September 20, 2015

Copper Bear Market Rally Underway / Commodities / Copper

By: Austin_Galt

Copper has rallied recently and I believe this to be the start of a significant bear rally. Let's analyse the technicals of the daily, weekly and monthly charts.

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