The Chinese devour Copper, Nickel, and Lead stocks – demand is unquenchable...
By Chris DeHaemer
Every day I look at the London Metal Exchange and every day it’s green – like money in the bank. For example, copper has been up for seven weeks in a row – this week’s excuse is that the second biggest mine had a workers strike that curtailed supplies. Stockpiles are now at the lowest since December.
It’s all about demand from China – the world’s largest consumer of metal. It’s bumping up demand at 10% this year as it expands its electricity-generation capacity. China's first-quarter imports of copper and copper products rose 58%.
Copper is up 26% this year. That’s second only to Nickel...
Constant demand from China is pushing non-ferrous metals. Yesterday, China announced GDP growth at 11.1%. China has been growing around near 10% a year since 1978.
Nickel stockpiles are at less than 2 days consumption…
Nickel, the non-corrosive stainless steel used in natural gas pipelines, rose $675, or 1.4%, to $48,200 a ton. Stockpiles of the metal have dropped 86% in the past year to an amount equal to less than two days of global consumption.
Other metals like Lead, used in batteries, was up 2.6% yesterday. Demand has outstripped supply by 52,000 tons in the first two months of this year.
That giant sucking sound you hear is China devouring the world’s supply of raw materials. That other sound you hear is the “ding” of the cash register as metal investors make money hand-over-fist. You should be one of them.
Good hunting,
Christian DeHaemer,
Metal Profit, The RedZone Profits
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