Uh Oh, Dr. Copper just got Wacked!

[Westerner]

So the question is... when do the stocks get low? I did read that the Chinese had IIRC like a billion ounces of copper in stock? So they must have a lot of lead too. That would make sense. But I wonder if it's enough to fill all the current orders for ammo? It must be. Amazing.

[Westerner]

IIRC...One of the ways government was able to curb moonshiner's operations in the 30s was to buy up all the sugar and cause a artificial rise in price and cause supply problems in that commodity. It worked, the commodity became to expensive and hard to get for the majority of the moonshiners. .

They are doing it again by buying up all the ammo and passing new gun laws. However this time the price of lead and brass commodities are not reflecting it. The finish product yes. But the raw material is getting cheaper.

Off hand I think WTF chuck? A wag, could China and company be in on it? Or is war about ready to brake out?

It just really smells bad. I see huge spike in the LME stocks. Looking like 2008 but higher. Then the economy was doing better before, then after the stocks crashed too. Why did the LME stocks decline after the 2008 mini-crash?

[Westerner]

Ammo is still on a tare, let copper, zinc and lead are dead. What will it take to get them moving? Or are they moving and what we see in the base is a allusion?

[Atlas Shrugged]

Ammo is still on a tare, let copper, zinc and lead are dead. What will it take to get them moving? Or are they moving and what we see in the base is a allusion?

Copper is a base metal used as an indicator for economic growth since it is used in so many processes, specifically for it's capacity to carry electrons, but it is malleable, fights bacteria growth and oxides to a fine green patina. It is a canary in the economic coal mine. I look for a huge slowdown soon. One that even the CB's can't prevent.

[Atlas Shrugged]

Copper getting whacked again, off 1%.

We are now approaching the 2012 lows. if it breaks below 3, watch out below.

[Atlas Shrugged]

Copper getting whacked again, off 1%.

We are now approaching the 2012 lows. if it breaks below 3, watch out below.

Now down 1.52% It does matter.

[Atlas Shrugged]

Once cu breaks 3 it will be katy bar the door time.

Those stawk market dreamers will awake to a nightmare of epic proportions

[Agsearcher]

Whoops...good catch...off 2.4% for the week.

For anyone who doesn't follow the reference
http://www.cnbc.com/id/44630360

“There is an old saying that every stock bull market has a copper top,” wrote Jeff Hirsch, who runs the Stock Trader’s Almanac newsletter, in prescient note to clients at the start of March. “While not entirely true, as a key industrial material and benchmark of economic growth, copper tops have coincided with stock bull market tops on enough occasions to warrant concern.”

Thanks for posting the link.

Copper is a base metal used as an indicator for economic growth since it is used in so many processes, specifically for it's capacity to carry electrons, but it is malleable, fights bacteria growth and oxides to a fine green patina. It is a canary in the economic coal mine. I look for a huge slowdown soon. One that even the CB's can't prevent.

Agree 100%. Kitco base metals charts, (copper,aluminum,lead,zink) are something I check regularly. I recommend everyone take a peak at them. Check the historical charts, as well as the daily chart for all the base metals. They can be a real eyeopener.
I look at them often, for clues about how the world economy is doing. And, when is the best time to sell my scrap.

[FiatC]

http://www.foxbusiness.com/news/2013...st-production/

Copper Prices Recede Toward Cost of Production Published April 18, 2013

Dow Jones Newswires

For the first time since 2009, copper prices are falling toward the cost of production.

Copper's recent drop has pushed futures prices to the precipice of a bear market, down nearly 20% off their February 2012 highs. As futures trade around $3.20 a pound, they're dangerously close to the $2.80 a pound it costs some mining companies to dig up the metal, said Catherine Virga, director of research at CPM Group, a New York-based metals consultancy.

This marks a swift reversal from just two years earlier, when copper breached $4.62 a pound as investors feared a copper shortage. Copper-mining companies responded to the higher prices by diverting more of their profits toward expansion and new mines, but the development of new supply has been slow.

[Atlas Shrugged]

http://www.foxbusiness.com/news/2013...st-production/

Copper Prices Recede Toward Cost of Production Published April 18, 2013

Dow Jones Newswires

For the first time since 2009, copper prices are falling toward the cost of production.

Copper's recent drop has pushed futures prices to the precipice of a bear market, down nearly 20% off their February 2012 highs. As futures trade around $3.20 a pound, they're dangerously close to the $2.80 a pound it costs some mining companies to dig up the metal, said Catherine Virga, director of research at CPM Group, a New York-based metals consultancy.

This marks a swift reversal from just two years earlier, when copper breached $4.62 a pound as investors feared a copper shortage. Copper-mining companies responded to the higher prices by diverting more of their profits toward expansion and new mines, but the development of new supply has been slow.

Yep, if it breaks three, look for a huge deflationary slowdown to follow. Too much demand pulled forward. We (the world) did not take our lumps and now it will be worse.