% | $
Quotes you view appear here for quick access.

Southern Copper Corp. Message Board

  • adventureinhouston adventureinhouston Mar 13, 2014 4:13 PM Flag

    Market down hard, SCCO and FCX little change

    evidience that smart money knows that unfavorable growth figures for China is temporary

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Hopefully, we (SCCO holders) have to deal with short-term market phenomenon. Also, it should be noted that Chinese numbers cover period including Chinese new year. Anyway, SCCO is not just a miner completely depending on China.

      China doesn’t eat copper. It buys copper ore (concentrate) all over the world (except few spots where copper refineries still allowed to work). Chinese refineries process ores to copper metal and then this metal is used in zillion products that exported to U.S., Europe, etc.

      If the process above is broken, let’s imagine the worst that could happen with “Chinese growth”, then the whole world will be left without copper products and this situation could produce huge benefits for remaining copper (metal) producers. Hint: SCCO produces own copper; it doesn’t export ore to China.

      In other words, this company is fundamentally safe. It will continue produce even if all Chinese refineries go bankrupt as was amazingly deduced from single bankruptcy of one Chinese-based solar-equipment developer.

      PS: I apologize for refreshing basic ideas about this stock. Also, as it is already mentioned in multiple messages around this board, do not take this message as any kind of recommendation.

28.16+0.09(+0.32%)Oct 27 4:02 PMEDT