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I don't think it's about the next rise. They've priced In .75 imo. It seems to be more when/where do the rate rises stop that's a problem for the global markets at current. How much demand do the fed kill in their inflation fight, how high does the dollar get, what's the next step in the war etc etc
I got absolutely slaughtered. Can anyone explain to me how/why Glencore is invincible?!? Commodities off their high, fed desperately trying to kill demand as they can't fix supply, China slowing down and a blockage at 2 of their mines. Glencore goes up against all of this. Back to beans on toast for me.
Looking around at various mining reports and the looming recession falling supply, falling demand. The next commodities cycle is going to be insane for glen. Under investment is going to be made worse by the recession once it's recovered wouldn't be surprised to see this hit £9 in 2025/26
Stronger dollar, weaker commodities. Which can work both ways as it makes gpencore more appealing to the yanks. Furnaces/ smelters are starting to shutdown due to high coal/gas creating lower demand. China slowing down, fed about to hike rates, Boe about to raise rates QE hasn't even begun yet. I appreciate your views, potentially the only board I could post a shirt view without endless insults.
With the cost of base metals slumping and the costs of production up massively I think we may be near an infliction point. I also take your point and understand glen deals in both the base materials and production materials.
There is an old saying about blind people trying to show other blind people the way, can't remember the wording. Two mike's at a bar? What happens when you mix a psk and a Mike? Can't remember for the life of me...
Mate it's honestly fairly simple. It's like pre ordering a TV or car. The shop sell you the product even though they don't physically have it. They go to their supplier and buy it from them for a lower price than you paid. They sold high to you and bought back lower from the supplier.
Craig Someone who sells stock they don't own to buy back at a future price hopefully lower than today's. Jeff and CW actually do understand how markets work. You'd do well to take notice of them. Although I don't agree with all of it, it is a money wheel with fear and greed being the driver. Have you never noticed how convenient excuses are made for market movements(not black swan events).