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camarodan64 (98.56)

Large Drop in Copper stockpile levels seen last few months.

Recs

3

January 14, 2014 – Comments (5) | RELATED TICKERS: FCX , SCCO

The top in copper stockpiles is in, copper stockpiles now within the normal levels closer to the high end right now, copper stockpiles should continue to fall to 279,000 tonnes as the price of copper pushes for $3.99 when this is happening. Copper stockpiles now sitting at 345,000 tonnes

copper should move towards $4 but may peak at $3.75-$3.99 in this first bullish leg up. Copper stockpile leveles indicate a run up in price is coming.  Copper seems to be recoverying well and is on the verge of a breakout.

The 77k jobs number in the USA for December should be revised up to 103k perhaps. 

Freeport FCX could be returning to $55-$60 by Dec 2012 

SCCO is worth watching or buying at this point. 

 check the 5 year copper stockpile chart below and other charts found on the link

 

http://www.kitcometals.com/charts/copper_historical_large.html#lmestocks_5years

5 Comments – Post Your Own

#1) On January 14, 2014 at 12:57 AM, camarodan64 (98.57) wrote:

This draw down in copper supplies was predicted in my earlier blog post 

 http://caps.fool.com/Blogs/canadian-news-reporter-says/886067

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#2) On January 14, 2014 at 11:56 AM, griderX (96.22) wrote:

Curious, do you know where all this copper is going?  Why have we seen a drop in Warehouse stock levels?

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#3) On January 14, 2014 at 1:12 PM, camarodan64 (98.57) wrote:

correction...."Freeport FCX could be returning to $55-$60 by Dec 2012 "    should read "Freeport FCX could be returning to $55-$60 by Dec 2014 " 

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#4) On January 15, 2014 at 12:15 PM, GirlsUnder30 (98.09) wrote:

A very good heads up post. FCX was highlighted in the blog below along with other mining ideas:

http://caps.fool.com/Blogs/lets-talk-about-yours-and/910938 

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#5) On February 11, 2014 at 11:53 PM, camarodan64 (98.57) wrote:

copper stockpiles continue to fall,  a copper price rally to $3.75 per pound should occur soon.

 

new automobile  sales increasing.

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