Our last post on copper on these pages was at the tip of a contracting triangle near $2.75. It is up over 35% since then–along with many other commodities.
It looks like now is the time to be careful…
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But what about the Indian iron ore billets? Please don’t forget the billets.
lol
All this alternative energy stuff needs a lot of copper. Every windmill has to be connected to the grid, and has copper windings. Every solar cell has to be hooked up. Hybrid cars have 10X more copper than conventional cars. Infrastructure improvements here and in places like China require a lot of copper. So copper is more than a barometer of construction today.
You know gossip around the place is if China wasn’t on vacation they would be in selling this copper rally…Friday will be interesting to see if they chase the huge move up or sell it…..po pimp, very cute, lol.