Copper Value, Can it hold $4?

[Finder]

Voice your opinion.

Is this $4 a temporary spike, for the new support?

Feel free to elaborate on your reasoning.

Im happy to see it break the all time high and hold above $4 for nearly a week now.


Current Copper Price:

http://www.kitcometals.com/charts/coppe ... large.html

Copper Specimen from a mine in Arizona:

[Finder]

BTW, I voted yes.

Thats more than wishful thinking according to most of the articles I read on Copper.

* Copper is down to $4.0755 at the start of this poll from the $4.20 high.*

[Finder]

While most metals' prices are based on speculation and a retail demand based on traditions copper is different. Copper is arguably the most functional precious metal. Not only is copper used in coins and jewelry, it is the only precious metal used in home construction. Copper is used in plumbing in homes across the planet. Since most people consider plumbing a necessity it can also be said that copper's demand is based on a need and not just a want. Because of this copper is considered a less risky investment than metals such as gold and silver because it will always have an underlying value based on serving a function in society.

[Finder]

FAIL:

Commodity Online
Demand for China is looked at the main factor that will drive and sustain copper prices in 2009, says a report from J P Morgan.

According to a report published in purchasing.com, while its appears that the world copper price average in 2009 will stay under $1.90/lb, down from $3.15/lb in 2008, the 2010 price is being forecasted at $2.09 by the J.P. Morgan Securities commodity strategists in London.

http://www.commodityonline.com/news/Cop ... 5-3-1.html

[silverflake]

Please help. Newbie here. OK, I know a 1 ounce silver or gold bullion piece is 31.1 grams and that a troy pound of silver and/or gold is 12 ounces (correct that if I am wrong). So, is copper measured the same way? In other words, does $4/pound of copper mean that it's $4 for 12 troy ounces, each ounce weighing 31.1 grams? If this is not right, please let me know. And yes, I do realize that a pound in the day-to-day english system is SIXTEEN ounces (not twelve) and that an ounce is 28.35 grams. Thanks to anybody and everybody.

[Finder]

In other words, does $4/pound of copper mean that it's $4 for 12 troy ounces, each ounce weighing 31.1 grams?

This conversion app is showing 1lb equal to a little over 14.5 ounces:

http://www.conversion-metric.org/weight ... ersion.php

Also 31.1 Grams (g) = 0.99988055 Ounces troy (ozt)

453.6 Grams (g) = 1.00001675513 Pounds (lb)

[Finder]

Copper thieves jam Murray Morgan Bridge in place

Copper thieves ransacked the powerhouse atop the Murray Morgan Bridge around Thanksgiving, causing between $250,000 and $300,000 in damage and dealing a heavy blow to the City of Tacoma’s effort to repair and reopen the historic structure.

Published: 12/16/10 4:12 am | Updated: 12/16/10 4:24 am

Read more: http://www.thenewstribune.com/2010/12/1 ... z18Icwoll3

[uthminsta]

WHAT?!?

[Finder]

This copper thief got roasted:

WARNING GRAPHIC PICTURE!

http://i301.photobucket.com/albums/nn63 ... ad_guy.jpg

(How did that feel you low life?)

Ive also seen another one where 2 scumbags were roasted next to each other who had broken into a power station to steal the copper.

Imagine if Copper doubled.

People would have to put an electric fence or doberman around their outdoor AC units.

I was reading about recently an apartment complex that had all 8 of the AC's ripped off.

Pisses me off. May have been a needy childrens home or something.

[Common Cents]

Between the competitive race around the world for nations to devalue their currency and the continued growth in the alternative energy sphere, there should be tons of support for the price of CU. There's a good reason why JP Morgan bought such a huge position in physical copper last week.

[misteroman]

$4? tough. $3 without a doubt

[tinhorn]

There's a good reason why JP Morgan bought such a huge position in physical copper last week.

It's because they screwed themselves trying to short silver. Hahahahaha!

And since copper is not a PRECIOUS metal, it's weighed like other commodities--28.35 grams/ounce; 16 ounces to the pound.

[Finder]

4.10 to 4.15 this morning, The longer it stays above 4 the more likely 4 will become the new support imo.

Copper May Advance Next Week With Inventories Lower on Year, Survey Shows:

http://www.bloomberg.com/news/2010-12-1 ... shows.html

If housing ever picks back up that would be a huge boost.

[Finder]

Please help. Newbie here. OK, I know a 1 ounce silver or gold bullion piece is 31.1 grams and that a troy pound of silver and/or gold is 12 ounces (correct that if I am wrong). So, is copper measured the same way? In other words, does $4/pound of copper mean that it's $4 for 12 troy ounces, each ounce weighing 31.1 grams? If this is not right, please let me know. And yes, I do realize that a pound in the day-to-day english system is SIXTEEN ounces (not twelve) and that an ounce is 28.35 grams. Thanks to anybody and everybody.

There is some confusion and scamming out there on troy lb versus regular lb it seems.

Check this auction out:

http://cgi.ebay.com/1-POUND-999-FINE-CO ... 4cf3e71861

On another note wow look at some of the prices on 1 OZ rounds and 1 lb bars.

Some are paying $2.50 an oz for rounds. thats $40 a lb for copper!
Granted they are pretty and collectible, but someone is going to lose on a deal like that.

[Finder]

* Copper over $4 for 12 days now, as of 12-17-10.*

[Finder]

$4.17

New all time high possible this week imo.



Resistance is at 4.22 then 4.31

Support is now 4.14 then 4.05.

CH COPPER VIEW
TREND- BULLISH
STRATEGY- BUY ON DIPS
RES1-422 RES2-431
SUP1-414 SUP2-405

WE NEED TO BREAK 4.23, hold above 4.13.
support for the Copper is 413-408-397-388-380-373-. Immediate resistance for Copper is 423

[Finder]

WEEEEEEEEEEEEEE!

Copper over 4.26, all time record, resistance broken.

[Finder]

Now we need to break 4.31.