Copper price trends

[gonzomo]

A significant proportion of the business I'm in revolves around cables. Consequently, tracking or predicting moves in the price of copper can either make life very enjoyable or very uncomfortable depending if I'm reading the market correctly. As it stands, we've been through a stable period for the last 4/5 months but it appears volatility is back. Cable manufacturers increased prices by 12% a couple of weeks ago but I heard a whisper today that there will be another double digit rise next week, with another double digit rise by the middle of june. The digging I've been doing on google suggests that copper could be heading for record levels dependant on some expected figures on the chinese economy, due late next week. Before I left the office I placed a couple of large-ish orders to give me a buffer, but the question is obviously sit and watch or pile in early?

Anyone with specialist knowledge around?

[Phone_Monkey]

No specialist knowledge at the moment, but a friend of mine is saying that he is making more from ripping out copper for the scrapyard than building anything at the moment.

[Leftie]

I have just posed the question to a friend who deals in scrap metal internationally, and mainly copper.

He says prices did rise from about 6700 but have steadied at about 7400 of late. Over this weekend he has struggled to shift some copper at 7400 as buyers are scared of prices falling back this week (as is he as he has bought a load of it ). Wary customers usually means prices falling.

He thinks the price is being used by some larger investors such as pension funds, to make a quick buck by deliberately keeping the price volatile so they can take profits by seling and then buying when it falls back , but then he is a bit cynical!

[UK_WS6]

Leftie said:

I have just posed the question to a friend who deals in scrap metal internationally, and mainly copper.

He says prices did rise from about 6700 but have steadied at about 7400 of late. Over this weekend he has struggled to shift some copper at 7400 as buyers are scared of prices falling back this week (as is he as he has bought a load of it ). Wary customers usually means prices falling.

He thinks the price is being used by some larger investors such as pension funds, to make a quick buck by deliberately keeping the price volatile so they can take profits by seling and then buying when it falls back , but then he is a bit cynical!

,
,
Chineese expansion and growth,
Same with good qual. stainless.
Also gone through the roof.

[Leftie]

Must be on te way up again as they have pinched a load of the singalling cable on the Leeds rail lines again overnight which is a sign the price is high. Cheaper for network rail to give them the money to stay at home.