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Message: Otto sez re. COPPER
From:
"inca kola news" <[email protected]>
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Posted: 16 Apr 2009 05:18 AM PDT
.....the Bao-Gang Steel index, as featured at Casey's Charts last night.
The good Lord knows I'm no fan of these Casey dudes, but credit where credit is due. This is an insightful chart and worthy of eyeballs. Read up on the Casey take right here (but avoid the subscription link they give...it's a real rabbit hole) but what it means is pretty simple:
1) The whole recent price push was due to the Chinese stockpiling
2) There's no real end user demand
3) The stockpiling has stopped
4) Prices for metals will drop again
The good Lord knows I'm no fan of these Casey dudes, but credit where credit is due. This is an insightful chart and worthy of eyeballs. Read up on the Casey take right here (but avoid the subscription link they give...it's a real rabbit hole) but what it means is pretty simple:1) The whole recent price push was due to the Chinese stockpiling
2) There's no real end user demand
3) The stockpiling has stopped
4) Prices for metals will drop again
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