interesting story...might be an upside for coppy over the next 6-12 months

thought everyone here might be interested in this story I just saw on Yahoo....the short of it is that some of the big boy banks are pulling out or wary about lending to the huge metal companies that import copper to the US (lending money based on their copper stock)....apparently there is a HUGE scandal about fake receipts etc for stock that may or may not have existed. This means that there MIGHT be a shortage of copper in the next 6-12 months as existing supplies are gone through...

THAT could certainly spike domestic prices for copper....no guarantee, but hey, something to keep an eye out and maybe if you have space hold when we are getting closer and closer to the 6-12 mon period form now.....remember, USE THE INFO AS JUST THAT...INFO, NOT something to BET THE HOUSE ON...



here is the link if you want to read...

http://finance.yahoo.com/news/china-...9--sector.html

"Who has the Copper? "We do!!!""
"Who has the Aluminium? "We do!!!""
"Who has the Brass? "We do!!!""
"Who has the Iron? "We do!!!"

"Chinka clinka China man tried to milk the cow, where's all the metal gone? Oh, no wow!!!"

Now I'm even gladder that I have been saving up my metal for the last 7 months.
I'm expecting over 100kgs of just Copper #2...

That's a LOT of Copper for someone who carrys all my scrap back to my home, on my back, in a sack, quite a stack jack...

Thanks for the heads up and interesting story. I JUST decided the other day to hold all of our non-ferrous for a monthly run to help pay a chunk of rent. Maybe I'll hold the copper even longer. Maybe it's fate that we got a few copper pipes yesterday! Also have a few A/Cs and a fridge to break down. Compressors, electric motors, copper...YUMMY YUMMY IN MY SCRAPPING TUMMY TUMMY