Copper Prices Surge to 16-Year High on Global Supply Concerns
June 3 (Bloomberg) -- Copper prices in New York rose to the highest in 16 years on expectations that demand will outpace production, eroding global inventory that plunged 67 percent in the past year.

Copper futures for July delivery rose 3.85 cents, or 2.5 percent, to $1.555 a pound at 8:18 a.m. on the Comex division of the New York Mercantile Exchange after reaching $1.565, the highest since January 1989.

Stockpiles monitored by the London Metal Exchange fell 950 metric tons to 42,275 tons today, extending a drop to the lowest since May 1988. The decline, combined with reduced inventory in the U.S. and China, the biggest copper users, helped push prices up 24 percent in the past year.

With copper at $2.25 per pound the US copper penny, (pre 1984) is now worth 1.53 cents, 5,000 pennies equal 34 pounds or 147 equals one pound.

"Copper for May delivery jumped 9.45 cents, or 4.2%, to close at $2.36 a pound on the New York Mercantile Exchange. The contract touched a high of $2.363 -- that's the highest price ever recorded on the Commodities Exchange division of Nymex".

Quoted from popeye

"Copper for May delivery jumped 9.45 cents, or 4.2%, to close at $2.36 a pound on the New York Mercantile Exchange. The contract touched a high of $2.363 -- that's the highest price ever recorded on the Commodities Exchange division of Nymex".

thank you ,
no wonder CUP went way up on friday


johann67

Copper Leads Metals

By Nick Godt
Markets Reporter
4/5/2006 5:09 PM EDT
Click here for more stories by Nick Godt

Updated from 1:15 p.m. EDT

http://www.thestreet.com/_yaho.....t=FREE&cm_ite=NA


johann67

Today copper traded for over $3.20 a pound, reaching another all time record.

For those of you that have copper holdings this should be a great year for you.  I can remember when copper was from .60 to .63 for years.  Today copper hit another all time high and is currently trading above $3.70.

Copper hit $4.0283 today.

Sweet, Im in the progress of getting a ton of copper bullion/coins at extremely cheap prices

Vince, I have about 75,000 copper pennies.

Copper is currently about $3.84 a pound.

Quoted from popeye

Copper is currently about $3.84 a pound.

LOL,
But my Copper stock is TANKING, lol


johann67

95% of my watchlist is red, theres over 120 stocks on it, everything is going be down or barely up today

Copper is extremely parabolic. I'm sure there are excellent fundamentals for the extraordinary spike in the price of copper but technically it is extreme. On the daily chart both RSI and PPO are trending down but the price haven't pulled back much. Copper is forming some kind of triangle pattern and pattern resolution should soon follow. The weekly charts tells a different story , RSI and PPO looks pretty good and the pattern still looks reasonably bullish. Copper haven't necessarily seen its top yet.



http://cmd-chart.blogspot.com

Does anyone have high speed internet and can look at the proven and probable reserves of Cu, Ag, Au for First Quantum (FM-TSX) either on FM website or sedar and let me know how much reserves they have. My dialup is too slow at 46K to download these large reports!! I need this info to calc. the ratio of Market Cap/Reserve value to compare with others. Thanks.