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Interesting read. Thanks. There has been a strong historical correlation between oil and copper. The strongest actually. I wonder if the fundamental reasons for this high correlation are breaking down in recent times? With a higher supply of oil available pushing its price down, and surely a growing demand for copper.
Support levels here: http://uk.bannronn.com/stocks/support-resistance.php?symbol=KAZ.L
Copper follows oil. Oil had the worst day for 5 months today. If oil makes a recovery this will also. If you're thinking of selling up to buy back lower, be careful!
Congratulations to the Kaz team for maintaining momentum. On guidance production well received by the market. Some kind of brief monthly interim update from management would go a long way to filling the yawning 2 month gaps between news, and stabilising the sp. Looking good. ATB
Full list of resolutions in the upcoming agm. The full results has some good commentary from the Chairman and CEO. Remuneration is interesting. http://www.kazminerals.com/en/investors_media/investor_library
Hope the SP stays this low for another week so more will fit into an ISA, but doubt it will.
Its a possibility, if he is defeated on the infrastructure spend. Until then, a minor speculation. I see the current determiners here as, oil price (dragging copper down) and excess supply fears. Main copper uses fyi: https://www.google.co.uk/amp/marketrealist.com/2015/01/must-know-major-consumers-of-copper/amp/
Now the fear of rates rises has been taken away, we can expect copper to move back up. http://etfdailynews.com/2017/03/17/heres-why-interest-rates-arent-going-anywhere-despite-fed-hikes/
Apologies. Misread levels there. Disregard
Although I concede comex levels are growing.
Stocks are at a relatively low level compared with previous points in time: http://www.infomine.com/investment/warehouse-levels/copper/all/ 40MT represents 2 containers of finished goods, which is not a great deal, and probably wouldn't have a large price impact imo. Articles I've read (a bit stale now) point to the market being balanced in 2017 moving into deficit through 2020: https://www.google.co.uk/amp/s/www.bloomberg.com/amp/news/articles/2016-10-03/global-copper-shortages-seen-boosting-prices-46-through-2020 I suspect the market is pricing in a 25bp hike in USD rates in a few days. ATB
https://agmetalminer.com/2017/03/01/why-most-analysts-2017-copper-price-forecasts-are-wrong/
Suspect its the increased threat of US rate rises... https://www.hks.harvard.edu/fs/jfrankel/CP.htm https://www.thebalance.com/interest-rates-and-commodities-808937
Yh, i found it amusing I wasn't the only one interpretting certain comments yesterday as condescending. Let's move on
Tucson, if you're alluding to the possibility of a takeover in light of the ownership structure, nothing I've seen says the majority owners are prohibited from selling their holding. So the OP seems reasonable if unlikely. I was pleasantly surprised that the old mines are still part of the company as thought they had been spun off. Thanks to those who contrubited yesterday. GLA
To be fair it did prompt some interesting comments. I suppose some are looking to short kaz as, in the absence of news (april) this could drift. Its just bulls and bears. Personally i think there is more than enough going on in the copper market to keep this up.
Ha!
Thanks Ein.