Liberty Star Uranium & Metals Corp.

Combining Classic Mineral Exploration with State of the Art Technology

Free
Message: POC (Price of Copper)...

"The price of copper is off big time today, about 4.3 percent. 

Does anyone know what's behind this?"

 

By now you've probably seen articles on Kitco, among others, relating that, in addition to some monetary pressures- the main factor in the drop in POC is that China announced it will release some of its copper reserves, along with other base metals- in hopes of pushing down the rising POC which was becoming a burden for its economy. So far it has succeeded. But the good news is that this is felt to be only temporary- because the long term situation is that there is still a deficit in the supply of copper relative to demand. So while in the short the POC may come down- those reserves will need to be replenished along with a demand already exceeding supply. In fact, the authors cautioned against shorting copper for these reasons. 

So- good news!. . .BG and Liberty Star should proceed full steam ahead with its drilling plans- which are undoubtedly in place and in progress. Right?!

Share
New Message
Please login to post a reply