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JedBarleycorn (< 20)

That’s a NOT a Lotta Copper

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July 05, 2013 – Comments (3) | RELATED TICKERS: VALE

In my blog titled “That's a Lotta Copper”, June 15, 2013, I said rising demand from housing would benefit Southern Copper (SCCO). I was wrong.

 

Fed talk about raising interest rates drove markets silly. I was late for the train and at the wrong station. I now think housing demand will not favorably impact SCCO’s markets.

 

While SCCO may be oversold at these levels, I suspect that most traders will wait for a clear signal before coming in, and, so will I.

 

JB

 

 

3 Comments – Post Your Own

#1) On July 07, 2013 at 7:16 AM, drgroup (69.14) wrote:

Take into consideration that a lot of homes are wired in aluminum and dwv is piped in pvc. Not as much copper being used...

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#2) On August 22, 2013 at 2:45 AM, JedBarleycorn (< 20) wrote:

 

 

Good point, drgroup.

 

However, we found aluminum wiring dangerous and had to replace it.

 

It turned out that, within the walls, there was a junction of dissimilar metals that increased its resistance over time and caused overheating. This could have caused a fire.

 

We considered ourselves lucky to have discovered the problem in time to fix it with good old fashion copper (at no matter what the cost).

 

JB

 

 

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#3) On August 26, 2013 at 2:44 PM, drgroup (69.14) wrote:

Glad you caught it in time. I built a lot in the NorEast, many of the inspection agencies allow aluminum to be the primary servive to the building. This can be devistating to the owner. Every chance I had to convience the owner to use copper, I did. Made up cost increase by value engineering on the remainder of the project... 

DRG 

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