Just another of many bullish articles that you might look at places like www.mining.com "Cu section" franky boy! Go back to late november posts by me here from www.mining.com
You and your misleading stats...what a jack-azz. Folks encourage you to see all the articles posted by me on the bigger macro picture for copper. COMEX and LME warehouses need re-stocking and new Copper ETF's by JP Morgan and blackrock, when they come online soon, they'll need independent storage of the metal as well.
All bodes well for the "possibility" that new production from safe jurisdictions like Arizona may be just what the sector needs in order to properly secure sources of supply outside of 3rd world and revenue grubbing 3rd world countries who don't want miners to get their paybac before dipping in with their greasy little fingers.
Copper is one of the world's most critical manufacturing materials. It makes up the wiring in nearly everything... from cameras to iPads to Barbie dolls. And China consumes a prodigious amount.
China consumes more than 40% of the world's copper supply each year. And much of that copper is imported.
As you can see from the chart below, imports of copper have more than doubled in the last two years...
The big story in late 2011/early 2012 was a looming copper supply glut. China's imports collapsed to 400,000 metric tons in February 2011, the lowest point in five years.
After that low, imports yo-yoed. They hit their last peak last May – which was followed by a 28% crash.
Since then, copper imports have been on an absolute tear – up an incredible 73% from June to November.
Today, copper imports are nearly double what they were just five months ago... and are up 22% from their highest point in the last five years (up from 680 thousand metric tons per month in September 2010). This likely represents a "restocking" of Chinese warehouses.
Stefan Ioannou – a base-metals mining analyst at Haywood Securities and a former mining geologist – sees strong fundamentals buoying the copper market through 2015. In a recent interview with industry publication The Gold Report, he said...
Improving automobile numbers out of the U.S. and stronger manufacturing numbers out of China will both have a positive near-term impact on the copper price. We expect copper prices to move a bit higher in 2013.