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First there was gold bullion, then silver… lookout… copper is coming! It does not seem that long ago to me that you could buy a kilo bar of fine silver for under $200, but that has all changed now. In my younger days I used to own quite a bit of gold and silver. I was young and single and it was no big deal to buy a gold sovereign or a kilo bar of silver a week and still have plenty of my pay packet left over. How much times have changed. Currently here in Australia, a kilo bar of silver is just shy of $600 and a sovereign is around $250. It is not so easy for me anymore (to buy weekly) with housing costs, kids etc…
There are people like myself who are always interested in hoarding things of value, and I predict that copper as bullion is about to arrive, in fact there are already a few companies around the world who are starting to realise this. And copper REALLY is bullion, it is one of four metals that can be classified as bullion. They are gold, silver, copper and platinum. These metals are classed as bullion because they are monetary metals and are used to make alloys for coin production, as well as bullion bars for investment purposes. Copper is in the same column of the periodic table with gold and silver. Elements in the same column have similar properties. Like gold and silver, copper is a soft metal and has a metallic luster.
I believe copper has an excellent investment potential. The price has been rising strongly now for several years and there has been huge demand coming out of Asia and China. Copper currently has an average annual production of 18m tonnes. At current prices, one full years production could be purchased for U.S 140 billion dollars. To put this into perspective, Central banks around the world injected an estimated $300 billion dollars of liquidity into credit markets in a couple days of August 2007, which was enough to buy two full years of the world’s entire copper production! Currently, the London Metal Exchange (LME) has only around 3 to 4 days supply (140,000 – 210,000 tonnes) of copper. Even a small move by the public to purchase investment copper as a ‘store of value’ could push the price of copper much higher. As inflation increases, mining costs could also add upward pressure on the copper price. So copper may be looked at initially as a ‘poor mans’ gold or silver, but in times of economic hardship or rising inflation, silver usually outperforms gold because it is more affordable. I believe this could be the case with copper, instead of being a ‘poor mans’ choice, it could be the smartest investment of all. Check out our site www.ozcopper.com for more great free financial articles.
Copper has formed a fairly substantial resistance around $3.75, and doesnt look set to break any higher. This price seems to be about what the market can bear in terms of price. Copper is an industrial metal, with no traditional value as a store of wealth. Therefore, price will only increase as far as the industrial market can bear. That price seems to be around $3.75-80 a pound.
If price breaks above $4, I might reconsider my bearishness about copper, but until then, bugger off spammer.
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Can't ever see the day when thieves would break in to steal the water pipes instead of the telly.
One of my partner's ancestors ended up being deported to Australia for nicking scrap copper
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*As is true of all witch-hunting groups, the greatest sin was not so much the specific transgressions of the member, but any refusal to sanction the heresy-hunting procedure itself. - Rothbard
* Ron Paul for President
Can't ever see the day when thieves would break in to steal the water pipes instead of the telly.
It's happening more and more. Pipes pulled from walls, power wires snipped off, fittings from boats boosted, radiators from cars, plaques from headstones etc.
Where I live, metal thieves are in the news almost daily. One fool recently electrocuted himself. Safety concerns because grounding straps are missing from power transmission equipment. There is talk of more government regulation of scrap metal dealers.
I know one guy who brags of stealing the aluminum doors and downspouts from off people's houses.
Scrap copper, bronze and brass, and scrap aluminum are worth more than used TVs.
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It's happening more and more. Pipes pulled from walls, power wires snipped off, fittings from boats boosted, radiators from cars, plaques from headstones etc.
Where I live, metal thieves are in the news almost daily. One fool recently electrocuted himself. Safety concerns because grounding straps are missing from power transmission equipment. There is talk of more government regulation of scrap metal dealers.
I know one guy who brags of stealing the aluminum doors and downspouts from off people's houses.
Scrap copper, bronze and brass, and scrap aluminum are worth more than used TVs.
Maybe I should leave a note, the booty is in the recycling bin.
Same here where I live in the next suburb they are going from block to block,
My mates units got hit last week.
Quote:
Copper theft on the rise, scrap metal dealers warned
Friday, December 21, 2007
MORE than $100,000 worth of stolen copper is being traded in NSW each month and the NSW Government has warned scrap yard dealers they may be unknowingly accepting stolen goods from thieves. It has called on scrap metal dealers to work with police in cracking down on the trend.
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Copper bullion is coming!
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