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four-fifths of Londons copper snapped up by a mystery trader

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four-fifths of Londons copper snapped up by a mystery trader

Postby 97guns » Fri Dec 03, 2010 9:18 pm

http://www.telegraph.co.uk/finance/news ... arket.html

i wonder what Confucius might say
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Re: four-fifths of Londons copper snapped up by a mystery tr

Postby jasmatk » Fri Dec 03, 2010 9:29 pm

read this earlier today on another site and i think confucius might say thats one smart guy :D
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Re: four-fifths of Londons copper snapped up by a mystery tr

Postby 999Ni » Fri Dec 03, 2010 9:41 pm

Confucious say:

He who buy lots of Copper.........must have BIG house! :lol:
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Re: four-fifths of Londons copper snapped up by a mystery tr

Postby Sheikh_yer_Bu'Tay » Sat Dec 04, 2010 8:58 am

97guns wrote:http://www.telegraph.co.uk/finance/newsbysector/industry/mining/8178797/Mystery-trader-captures-80pc-of-Londons-copper-market.html

i wonder what Confucius might say


Hmmm... Well the only Confucius saying I learned as a kid was:

"Man who have woman on ground... have piece on earth." :mrgreen:

No, wait, wrong subject.

Who could the mystery buyer be? Could it be someone/country that has tons of FRN's laying around devaluating and they need to buy something with them before they loose more purchasing power?
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Re: four-fifths of Londons copper snapped up by a mystery tr

Postby 97guns » Sat Dec 04, 2010 10:18 am

Sheikh_yer_Bu'Tay wrote:
97guns wrote:http://www.telegraph.co.uk/finance/newsbysector/industry/mining/8178797/Mystery-trader-captures-80pc-of-Londons-copper-market.html

i wonder what Confucius might say

Who could the mystery buyer be? Could it be someone/country that has tons of FRN's laying around devaluating and they need to buy something with them before they loose more purchasing power?




im thinking its Confucius offspring
Retired in 2009 with 300K in net worth by going all in with cash flowing real estate. every disposable penny goes back into savings via PM's - by using this technique my net worth has nearly doubled up.

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Re: four-fifths of Londons copper snapped up by a mystery tr

Postby Kurr » Sat Dec 04, 2010 11:41 am

http://www.telegraph.co.uk/finance/news ... n-LME.html

The $1.5bn (£1bn) trade was described in the LME's daily update as "between 50pc and 80pc" of the 350,000 tonnes in reserves. This pushed up the price for the immediate delivery of copper to $8,700 – its highest level since the financial crisis in October 2008.

A high premium on the spot copper price normally reflects fear of a shortage of the metal, which is in hot demand across the world as a vital component in a mass of products from electrical gadgets to wiring.

A source close to the situation said that JP Morgan had bought the copper contracts, adding that amount is closer to the "lower portion of the range" disclosed by the LME.

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Re: four-fifths of Londons copper snapped up by a mystery tr

Postby TheJonasCollegeFund » Sat Dec 04, 2010 11:48 am

And I thought when I read this that Hoard took a trip to London on a buying spree!
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Re: four-fifths of Londons copper snapped up by a mystery tr

Postby AGgressive Metal » Sat Dec 04, 2010 2:49 pm

The "mystery trader" was none other than JP Morgan. See my new thread.
And he that hath lyberte ought to kepe hit wel
For nothyng is better than lyberte
For lyberte shold not be wel sold for alle the gold and syluer of all the world
-Aesop's Fables, Caxton edition 1484

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Re: four-fifths of Londons copper snapped up by a mystery tr

Postby HoardCopperByTheTon » Mon Dec 06, 2010 1:10 am

TheJonasCollegeFund wrote:And I thought when I read this that Hoard took a trip to London on a buying spree!

Nah, no flat rate shipping from London. :mrgreen:
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