four-fifths of Londons copper snapped up by a mystery trader
Posted: Fri Dec 03, 2010 9:18 pm
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four-fifths of Londons copper snapped up by a mystery trader
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Posted: Fri Dec 03, 2010 9:18 pmRe: four-fifths of Londons copper snapped up by a mystery tr
Posted: Fri Dec 03, 2010 9:29 pmread this earlier today on another site and i think confucius might say thats one smart guy
Re: four-fifths of Londons copper snapped up by a mystery tr
Posted: Fri Dec 03, 2010 9:41 pmConfucious say:
He who buy lots of Copper.........must have BIG house!
He who buy lots of Copper.........must have BIG house!
Re: four-fifths of Londons copper snapped up by a mystery tr
Posted: Sat Dec 04, 2010 8:58 am97guns 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."
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?
Re: four-fifths of Londons copper snapped up by a mystery tr
Posted: Sat Dec 04, 2010 10:18 amSheikh_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
Re: four-fifths of Londons copper snapped up by a mystery tr
Posted: Sat Dec 04, 2010 11:41 amhttp://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.
More at link.
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.
More at link.
Re: four-fifths of Londons copper snapped up by a mystery tr
Posted: Sat Dec 04, 2010 11:48 amAnd I thought when I read this that Hoard took a trip to London on a buying spree!
Re: four-fifths of Londons copper snapped up by a mystery tr
Posted: Sat Dec 04, 2010 2:49 pmThe "mystery trader" was none other than JP Morgan. See my new thread.
Re: four-fifths of Londons copper snapped up by a mystery tr
Posted: Mon Dec 06, 2010 1:10 amTheJonasCollegeFund 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.