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This week's upward price move in copper is the biggest in years. And not a post in over a week!

Just hoping it can stay up!

LME copper warehouse levels have dropped over 50k pounds in the last 30 days. 30k of that being in the last 10 days!! I wonder where it's all going.

If Trump creates a lot of infrastructure projects (for instance, airports and schools), this could require quite a bit of copper. I thought I was reading that it didn't matter whether Trump or Hillary won. Regardless of who won, there would be lots of infrastructure spending. How would they pay for the infrastructure? Perhaps it could be done by modestly taxing the big cash hoard overseas in order to bring a bunch of it back home to pay for the infrastructure.

Copper right now (early Friday morning- 11/11/16) is $2.70/lb., up 6.58% (17 cents). That has to be one of the biggest single day moves in a long long time.

highroller4321 wrote:Just hoping it can stay up!

LME copper warehouse levels have dropped over 50k pounds in the last 30 days. 30k of that being in the last 10 days!! I wonder where it's all going.

Not that I know Jack about inventories and how they effect prices but as recently as June this year, "LME copper inventories jumped by 70K metric tons in a few days. That pushed futures prices out to three months above the cash price for copper — a situation referred to as contango, which reflects an expectation that futures prices would gradually fall to match the expected spot price". From: http://www.investing.com/news/economy-n ... omy-419263

Adam, are your numbers pounds or metric tons? 50K pounds or about 25 tons I would guess is more like your inventory. Just a guess though. Now, were you to say Portland Mint inventories dropped 30K pounds in the last ten days . . . Well, I'd be thinking about the possibility of local investing in community businesses.

And the minute our stock market opens copper is back down to $2.62. Still up very nicely this week.

johnbrickner wrote:

highroller4321 wrote:Just hoping it can stay up!

LME copper warehouse levels have dropped over 50k pounds in the last 30 days. 30k of that being in the last 10 days!! I wonder where it's all going.

Not that I know Jack about inventories and how they effect prices but as recently as June this year, "LME copper inventories jumped by 70K metric tons in a few days. That pushed futures prices out to three months above the cash price for copper — a situation referred to as contango, which reflects an expectation that futures prices would gradually fall to match the expected spot price". From: http://www.investing.com/news/economy-n ... omy-419263

Adam, are your numbers pounds or metric tons? 50K pounds or about 25 tons I would guess is more like your inventory. Just a guess though. Now, were you to say Portland Mint inventories dropped 30K pounds in the last ten days . . . Well, I'd be thinking about the possibility of local investing in community businesses.

Those numbers are in metric tons, but you also have to look at the bigger picture. 30 days ago they had around 350 tons and now they are down to 280. This represents a 20% drop in inventory levels. LME warehouse levels don't tell it all, but it does show that the copper being actively produced is not enough to meet the demand.

Recyclersteve wrote:And the minute our stock market opens copper is back down to $2.62. Still up very nicely this week.

I've never seen copper make a "silver" like move like that before!

Barron's recently said something about metals coming out of LME storage, not to be used but to be stored elsewhere so that it can be stored more cheaply. So I won't get too excited about any upcoming shortages.

This guy sold $15 worth of Cu cents and netted a total of $10 after fees and shipping.
http://www.ebay.com/itm/1500-pre-1982-9 ... Swal5YEBGI

Looks like on E-bay you can net about 1.3X fv if your selling $50 bags.

They are simply a pain in the as$. I would love to get rid of mine, but I really don't even want to hassle moving them.

Congratulations to everyone here who sold Cu cents at a profit.

I've sold more copper in the past 2 weeks to the "small buyers" than I have in the last several months. It will be interesting to see where copper goes in the coming months.

highroller4321 wrote:I've sold more copper in the past 2 weeks to the "small buyers" than I have in the last several months. It will be interesting to see where copper goes in the coming months.

Just curious- what do you define as a "small buyer"?

Recyclersteve wrote:

highroller4321 wrote:I've sold more copper in the past 2 weeks to the "small buyers" than I have in the last several months. It will be interesting to see where copper goes in the coming months.

Just curious- what do you define as a "small buyer"?

Also curious as to the median Small Lot Size. Will I be

Copper_Baron wrote:This week's upward price move in copper is the biggest in years. And not a post in over a week!

Who cares about copper?

Yes, I saw the trend that started before the election. I've been watching and wondering if it is just a fluke related to the election. All the markets have done a bit or a jerk, up or down, left or right.

All in all I see the up tick, but not thinking it is going to last. Wanting to see how it plays out.

coppernickel wrote:

Copper_Baron wrote:This week's upward price move in copper is the biggest in years. And not a post in over a week!

Who cares about copper?

Yes, I saw the trend that started before the election. I've been watching and wondering if it is just a fluke related to the election. All the markets have done a bit or a jerk, up or down, left or right.

All in all I see the up tick, but not thinking it is going to last. Wanting to see how it plays out.

It appeared to be an increase due to the anticipated increase in infrastructure work from The Donalds plans to make America great. Every one cares about Doc Copper as he is seldom wrong. Or so I have heard.