Too early to tell, but it looks like copper’s stars may be coming into alignment.

A few points to ponder –

• Copper closed at $ 2.8365 on Friday, marking its 4th consecutive weekly gain, and taking Big Red to an eight month high.
• After hitting a low of $2.47 in September, copper has risen 37¢ or 15% since then.
• The month started with Dec / Mar at a 1.80¢ contango, which diminished to just 5 points on the 13th, before going...

• Read more
• View Charts (PDF)
• View Copper Miners vs Comex (PDF)

Overall, it’s been a couple of good weeks for the markets, with support lines continuing to hold, and prices still advancing.

Copper closed out the week at $2.81, a seven month high, and is well above its 52 week moving average.

The rest of the nonferrous metals are also looking...

• Read more
• View Charts (PDF)

As relates to nickel, that’s the way it appears.

Last week, inventories of nickel held in LME warehouses rose 54,342 mt, (worth about $770 million) or nearly 80% to 123,228 mt.

Oddly enough, the price also rose last week...

• Read more
• View Charts (PDF)

That’s pretty much the way it felt last week.

The trade war widened, as President Trump proposed new tariffs on goods from France; duties on steel and aluminum from Brazil and Argentina, and also suggested that he “liked the idea of waiting until after the election” to reach a deal with China.

As might be expected, equity markets around the world were less...

• Read more
• View Charts (PDF)