Follow gold, silver and even palladium.
know nothing about copper.
any experts out there have any input?
We’re all adults here and at the end of the day need to do our own DD.
But some insight would help :)
Copper is used in various grades of steels (stainless etc). If copper is going up that would mean manufacturing output is stronger. Supply and demand.
Copper basically follows the building industry ups and downs.
The good news for this is that there is a mining company who has taken steps to start mining in the copper country of the UP of Mich. That area has the largest deposits of float copper in the world. Some of it 95% pure copper.
If they can only figure out how to get it out of the ground.
Made a nice profit.
Missed the top but also missed the bottom.
Copper is good for long term.
Bitcoin. I know you asked about tangible stuff, but there it is almost 1200, nipping at the heels of gold. The technical charts are crazy since it doesn’t have economic sentiment or some other stabilizer. But my own Bitcoins are doing well, only wish I could have bought more at the time.
Metals and mining went through a monster bull run and then blew up something fierce about 6 yrs ago. The downturn has been very sharp and painful and decimated companies and even the entire area of emerging markets. We are now in a very sharp v shaped recovery for this segment.
I’m an RIA of 25 years. This is a dangerous space to play in. Never commit more than 2-6% of invested capital to stuff like this. For every one guy that makes money in exotics, there are 10-20 left holding the bag.
There is a ton of work ongoing around the country building/rebuilding our electrical grid.
Look to Iron Ore pricing in China.
Basically copper is a stockpiling metal for the Chinese. If they are consuming more iron ore than the follow on is copper. The capacity of warehouses in Shanghai and London are increasing.
As China goes, so does copper. Central planners stockpile and liquidate, it’s all they know.
Could be a lead in for a slight recovery on the Mainland but they are having trouble with their current account and the impossible task of sterilizing the Yuan while manipulating interest rates. There’s a bunch of speculation mixed in so tread lightly.