2018 PREVIEW: This year could signal the end of the LME copper stock 'battle'

By Kiki Kang / January 05, 2018 / www.metalbulletin.com / Article Link

The massive waves recorded in London Metal Exchange copper stocks could subside in 2018, with the big bull buying up tonnage to meet the coming year's commitments and deliveries from the bears to the exchange expected to return to their normal pace seen before 2016.

The battle between two major trading houses that played out in the LME copper warehouses began in 2016, causing prices to rise and fall in time with the stock flows. But the war is likely to draw to an end in 2018 with copper prices finding more solid fundamental support from the lack of new projects as well as stable demand, while three-month LME copper prices gained nearly 30% year on year as of December 22, the last working day before Christmas holiday, to $7,136 per tonne. More importantly, the market believes that the big bull, Glencore, has already secured enough material for 2018. Five waves LME copper stocks saw five major waves beginning in August 2016, with materials believed to have been delivered mainly by Trafigura as part of its short strategy on the futures market, while Glencore...

Recent News

Gold's Bull Market Pullbacks

April 28, 2025 / www.canadianminingreport.com

Gold stocks down on metal drop

April 28, 2025 / www.canadianminingreport.com

Investment banks ahead of the gold price, institutions still behind

April 21, 2025 / www.canadianminingreport.com

Gold stocks up, juniors outperform on small cap strength

April 21, 2025 / www.canadianminingreport.com

Gold stocks rebound to new highs

April 14, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok