I just checked the futures market with CME and the Cu price is flat so whilst logic might point to higher demand and price, the futures market is not reflecting that at the moment
Just looked at the Cu Futures market via CME and saw that for the coming year the price is just about flat. So when considering the next hedge, a rising price is not clear cut. Anyhow, any new hedge will almost certainly be well ahead of the previous one. Anyone fancy a contango?
We need to remember that there are some "people" who are happy sellers at anything over 18p. As others have said, they can only sell once. It may take a while for the market to clear these "investors"
UK Gov about to announce that all new build homes and other building will have to incorporate EV charging points. Increased marginal demand for Cu etc. Every little helps!
The auto generated buy or sell label is just a best guess based on pricing at the time. Over and over again it is incorrect so I pay no attention to it.
This one month delay is becoming quite normal on AIM but the announcement of the delay is usually accompanied by reassurance that there is nothing wrong with trading etc. I hope that there is nothing wrong with trading!
I asked the question on the Investors Day about the possibility of RMM being forced to buy Cu in the spot market to meet their obligations and therefore sell at a loss. Toby reassured us that they would not be forced into this position, so on that score, I'm relaxed!
Today's RNS contained some positive news. Short term impact on SP was NIL as potential buyers await moves by potential sellers on or after 17 July. BOD communicating well these days, thanks