Copper North Mining Corp – Copper News – March 21, 2016 We are sourcing additional information as to supply and demand that may interest our investors. The information is taken from newsletter and from industry databases. Investors should not rely on the information provided in this Copper News; rather, they should seek advice from investment advisors.
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Copper Recovery: breaks six month down trend from US$2.24 late August 2015; January 2016 low of US$1.96/lb has recovered to a 4 month high of $2.30/lb for a 17% increase.
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LME copper inventories decline from 370,000 tonnes August 2015 peak to current low of 158,275 tonnes .
Copper Weekly Inventory Adjustments Stockpiles continued to fall this week on LME. Large Shanghai inventory increase. Note that table does not include private stocks of smelters, government stockpiles, etc. Week Of Mar 14, 2016 Mar7, 2016 Feb 29, 2016 Feb 22, 2016 Feb 15, 2016 Feb 8, 2016 Feb 1, 2016 Jan 25, 2015 Jan 18, 2015 Jan 11, 2016 Jan 4, 2016 Dec 28, 2015 Dec 21, 2015 Dec 14, 2015 Dec 7, 2015
LME (65%) -17,700 tonnes 10,725 -10,525 -11,300 -11,700 -8,425 -13,725 +5,025 +3950 -4600 -325
Shanghai (23%)
Comex (11.5%)
+44,639 tonnes +45,032 +29,083 -881 +35,662 0 +29,317 +17,653 +8,081 -2340 +10,717
+1,540 tonnes
-750 +3025
-4981
-1348 +432
-850 -4,950
+9205 -2,115
-736 -1774
-254 -338 +15 +1,769 +266 -96 -1356 -1210 -1092
Production cut-backs, decline of mine head grades, reduced treatment and refining charges, and falling inventories, all suggest copper supply shortfalls in the making? HM Visagie Daily Notes
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Feb 29, 2016