Copper Breakout vs Gold | ETG:CA Message Board Posts


Entree Resources Ltd

  ETG:CA website


  • We have set up a new board (#AdminHowTo) to better assist you with using our service and getting the most out of it.

    To access the board, click the blue link above or, if you are a registered member, you can check the latest message from Admin in your IV Inbox and click the link provided there as well.  

ETG:CA   /  Message Board  /  Read Message

 

 






Keyword
Subject
Between
and
Rec'd By
Authored By
Minimum Recs
  
Previous Message  Next Message    Post Message    Post a Reply return to message boardtop of board
Msg  14827 of 15077  at  10/19/2021 5:23:38 PM  by

countrygent


 In response to msg 14826 by  minerdude
view thread

Re: Copper Breakout vs Gold

There is some mischief afoot - Trafigura appears to have withdrawn a huge amount of the drawdown, likely in a play to spook up prices and then bleed their horde into the market at high prices. Have to wait and see how the buy side imposes punishment or discipline if they are playing a little squeeze game here.

The numbers are extreme though - through $11,000 and a premium backwardation of over $1000.

Wont hurt ETG.

In other news such as OT negotiations no news. Interesting the government news outlet Montsame has had little of nothing to say, except I saw when the Ministry of Finance published their 2022 budget projections it included enhanced revenues from OT underground and the TT power plant.

You might think that these wild price gains in copper would salve the wounds of capex cost overruns. Negotiating in Mongolia must be painful - how many of these prolonged pointless standoffs have we seen in 20 years? Stubborn people on both sides.

cg


     e-mail to a friend      printer-friendly     add to library      
|  
Recs: 0  
   Views: 0 []
Previous Message  Next Message    Post Message    Post a Reply return to message boardtop of board


Financial Market Data provided by
.
Loading...