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How long is a piece of string no body knows just speculation.. that old saying a bird in the had . Owns better than nowt .. and the divi doesn't help either
Hi. A question to more experienced collegues. I got some here around 408p. Should i sell now for small profit ? Or you think it will go up to 5£ ? Ive seen some posts sugesting it may to up to 5 before july and some others it will retrace to 420 levels. I know there is no golden rule here and everything can happen.
Thx for all answers.
Evi, seems EV sales are slowing down, news feeds suggesting backing up of vehicles in european ports, so not personally seeing much of a boost there for good old copper, but given the rush to decarbonise infrastructure worldwide in anticipation as recovery grows, more windmills etc then there will certainly be a big need to upgrade powerlines etc, so no doubt will assist demand.
Old Glenda doing well currently of late though, no complaints here :)
ZINC up 2% today and glencore produce nearly 1 million tonnes of the stuff every year. yeh copper is its only arrrow....Zinc is up 10% in 2024
Iron ore price up 10% in the last month
all in the commodities new super cycle.. timing is everything
I think the smelters need good quality coal aswell as the ore ? Glen have been poisoning themselves the last few years, buying copper mines, building their own smelters, Teck, getting rid of the baggage mines, reduced divi this year to pay for this gearing up, Glen are putting themselves in a great position for the future demands of basic raw materials, threw to finished product.
Copper was thought to be headed toward a supply crisis as the world adopts electric vehicles and other greenification measures.
And now that crisis is here, say Bank of America metals strategists led by Michael Widmer.
“The much-discussed lack of mine projects is becoming an increasing issue for copper. This, along with investment in green technologies and a rebound of the global economy, should lift prices to US$10,250/t (465c/lb) by the fourth quarter,” they say, an upgrade of 8% from their previous view.
Front-month copper futures HG00 were trading at $4.28 per pound, up 10% on the year on Tuesday.
Bank of America wasn’t the only Wall Street bank forecasting copper price gains. Analysts at Citi said consumers of the metal should “urgently hedge” or risk facing $320 billion of cost increases over the next three years. Saying copper is the second bull market this century, they say copper prices are trending higher to average $10,000 per ton in the fourth quarter and $12,000 by 2026.
The Bank of America analysts also are bullish on gold.
This rise is 100% due to Copper price surge or Glen would be at £380.
So your listening to the same experts that said copper would drop in 24/25 these experts make it up as they go.
Late reported trades £21 million buys at 475.
Ade1234... copper surge drops???? what are you on about. they are the worlds top 10 producers of Lead, Iron, Zinc, cobalt, tungsten as well as copper. there is a global return to consumption of all these base metals and this is only going to increase .
its not all about copper, but in that case most commodity experts see copper getting to $16000 per tonne, I'll go with the experts here
Look at Anto, up over £22, fron £14s, Glencoes way behind in comparison. Sorry.
Was wondering where all the shorters were hiding. but now they are out in full force. If it stays above 472 for 2 more days you wont be buying under £5 in july. good luck with the shorts. the copper price is going one way fro the next 6 months
Been quite a good run, so I took my profit. Hope to pick it up again if it falls back to the 420/30's.😂😂😂
Nasdaq selling off atm plus Dow to a certain amount, it could have a rippling effect,
I'm happy to be in cash atm
Glen wont make £5 it will soon see sub £4 again once this Copper surge drops.
IMO Glen will need a close above 475 before it drops to the 460s then it’s of to a fiver
However a close below 450 and it will see 460 then down to the 420s
Will it wont it 472 is a hard level to crack. hopefully US opening later will give it a bit of momentum it usually does
So 472 hit this morning, what next. well if it falls back to 470 or below it may retrace to 455 p. if it stays above 472 for a couple of days then we are off to 500 p. now that would be very nice for yours ....
And disappointing compared to last year ;-)
$0.065
The information you require is on this web site under GLEN financial diary. But as you are not able to look - ex div is2nd May and the divi is $0.06.
When is ex dive date and what is the divi price please
Good luck lads ,:)
DT Only need the sp to go up another few points to be in profit. Us shares doing so well..
Good article Evi, promising read.