COPPER -The bullish commodity

COPPER prices have surged more than other metals. Why are copper traders pumping this metal instead of other metals such as aluminum or steel?

Copper supply is more scarce than other metals, but the demand is increasing.

Copper is highly conductive, so its used a lot in computer parts, its also widely used in real estate housing development for plumbing and other things. The real estate boom in Dubai and China is leading the rise for copper mainly, and will continue for as long as i can see.

side note: I'm long fcx from 75. It's been a good ride so far.

hey guys is there a free feed that provides copper charts?
one with mt4 would be awesome.

thanks.
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Try Broco or 4xp.com

thanks
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has uptrend in Copper changed in downtrend?
or this is only profit booking??

Bearish outside bar on weekly chart.
However, it is still profit taking.
Retracement likely next week: we'll see if, at the end of this, sellers will try to bring the commodity in support area.
Chart daily.

starman45

Thanks for reply..

so i think u are trying to say that we should watch this week's closing level to to go positional long or short, before that it might be risky to go positional.

regards

further weakness may possible in comming days in copper??

as per my study in MCX india Rs: 380 -385 level is better level to go long for target of Rs:430 with Strict Stoploss of 350
what you think??
LME buy level may 8800 for target of 9900 with Stop below 8400...
friends..!
may be i am wrong.. so kindly share your study....

Copper is used as an electrical conductor cheaper than others also as pipe. ie: for (water flow / plumbing)

We just had massive disasters in New Zealand and Japan, not to mention the growth in China all fuel demand for this metal in particular.

Australia is a major exporter / miner of copper, thus even weather can affect the POC (price of CU) ie: cyclone in Australia.

Many different things to consider about copper.

One more is that if speculation drives the price too high perhaps builders will look to an alternative metal or "alloy" that is cheaper in turn driving prices down.

We'll see.
X

Technically it seems a bit trapped.

http://www.kitconet.com/charts/metal..._cp450x275.gif

Not bad for range trading. although I don't really trade copper I hoard it physically. All pennies before 1982 are worth appx now 2/3 cents depending on spot.

That's why the US penny looks like a toy now. It is a thin Coating of CU with a zinc core.

http://www.kitconet.com/charts/metal...r-6m-Large.gif

This is an interesting chart - overall prevailing trend bullish - massive resistance at 5.00

http://www.kitconet.com/charts/metal...r-5y-Large.gif

says a lot about what can happen.

copper time daily

RD-

http://pcmbrokers.org/pcmfileupload/...9726815511.gif

COPPER
Copper rose on Friday as confidence in the outlook for global growth gathered pace, with U.S manufacturing and employment data showing recovery in the world's largest economy is on track. Three-month copper closed at $8,290 a tonne, up from a close of $8,165 on Thursday , when it touched a 3-1/2 month intraday high at $8,291.25 a tonne.

Commodities

 

1. Copper Climbs to Four-Month High as U.S., China Economies Revive
2. Platinum Climbs 1.4% to Highest Since October, Palladium Rises
3. Oil Little Changed After Weekly Advance on U.S., China Outlook
4. Gold Little Changed as Investors Weigh U.S. Jobs, Growth

COPPER
Copper futures edged higher on Wednesday after upbeat data from the United States and Europe reinforced expectations the global economy is recovering, boosting the outlook for demand for industrial metals. Three-month copper rose 0.4 % to $8,302.75, its second gain in three sessions.

COPPER
Copper was stuck in a holding pattern on Tuesday with traders reluctant to take big positions due to a week-long holiday in top consumer China, while brightening economic prospects there and in the United States underpinned prices. 3M copper was little changed at $8,196, after falling more than 1 % in the previous session.