Forum for discussing any topic related to investing in, collecting and saving US, Canadian, UK, and other Copper Bullion Pennies for their metal content.
by crazypennyguy » Mon Oct 03, 2011 9:40 pm
Chinese Copper Demand: Not Quite As Horrible As You Think...Over 2007-2008 Chinese imports of copper had a mildly negative correlation to the price of copper: While copper prices dropped 60% in 2008, Chinese import demand dropped 5%, then grew ~63% in 2009. Finally, at $7,100/ton today after a 20% drop in recent weeks, copper is only at its 5-year average price. The increasing import demand of late suggests that the Chinese may import more raw materials as commodity prices moderate and this is backed up by the recent moderate strength (relative to the last 24 months) in the Baltic Dry Index.
So the downdraft might not be that bad all told.
I did it. I've been crazy enough to sort through 10,000 rolls of pennies. Almost makes you think, "some people will do anything to build up a
coin collection."
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crazypennyguy
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