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Southern Copper Corp. Message Board

  • saiani saiani Apr 12, 2013 11:13 AM Flag

    This is probably why we are in a nose dive:

    We found a very interesting article this morning which relates to a chart we threw up in the chart of the day section this week. We were openly wondering what copper prices were telling us about the world economy when they were sitting at support which was at the lows of its range-bound chart area. Well an article (see link here) from the Wall Street Journal may create more questions than it answers because it appears that games are being played within the trading space to redirect copper supplies from the warehouses and artificially prop up prices. This does benefit players like Freeport McMoRan (FCX) and Southern Copper (SCCO) to an extent, but the real beneficiaries are the traders who are on the bullish side of the trades as these supplies are redirected. We imagine this could lead to further investigations into the futures trading business/markets and it just goes to show what a few bad apples can do.

26.13+0.12(+0.46%)Aug 26 4:02 PMEDT