John Gross, publisher of The Copper Journal and president of the J.E. Gross consulting firm, likes the current price movement in the metal markets. Here’s his take on it in the Copper Journal’s Weekly Update:
“Other than copper getting hit over the head with a near 31,000 metric tonne increase in warehouse stocks last week, prompting a 10 cent pullback in prices, most other metals were higher. Kind of odd given the worries of the world, Eh?
“More metal prices -- notably tin and nickel are looking like little sprout -- just beginning to poke their heads above ground like flowers in the Spring, and the S&P 500 closed at 2,130, matching its high close from May of last year.
“More importantly though, while it was noted a week or two ago, it’s worth reiterating here, that markets have been rising nicely/sharply/or wobbly from their lows earlier this year, and now appear to be traveling on a northeasterly trajectory.”
Interested in more detailed analysis of pricing trends in copper and other metals? Contact John at 631-824-6486 or [email protected].
Photo credit: BHP Billiton