[BC] copper to the moon Alice!

[Kevin C. Kidd, CSRE]

To da moon...

  From about 30 days ago, COMEX is down almost $1/lb but 
suppliers aren't following the market now.  I talked to a 
couple of copper suppliers today that say that the drastic 
drop in the past 30 days has got everyone scared.  Some 
lost a bundle when it spiked up and are trying to 
recoup.  Some are just greedy.  Some think that it will 
spike back up.  I think the operative term here is 
collusion.

A long time supplier that I trust says that the copper 
market MUST crash.  It may be this week or next year but it 
can't keep going at the breakneck pace of the past year.

Current copper prices are speculation driven.  When prices 
started going up, suppliers bought inventory _speculating_ 
that copper was going up. Correctly so. Metals 
_speculators_ saw the tremendous demand increase and 
started buying futures/options etc.  And the demand 
increased.

Repeat as often as possible.

Hurricanes, most of the US scrap going to the far east and 
some US mills shutting down certain products hastened the 
effect.

A local scrap yard is still offering $2.50+/lb for scrap 
copper.  I have nice shiny new copper wire in my warehouse 
that I could scrap and see a good profit.

I was told yesterday that Andrew and Cablewave had started 
a market driven copper surcharge on line orders.

Copper thefts will continue to increase at tower sites till 
the market stabilizes...

Later,



At 05:14 PM 6/14/2006, Rob Atkinson wrote
Okay Jackie Geason never mentioned copper, but I heard last 
night that the price of wire has gone to the moon.   I 
heard 500' of 12 gauge is 90 bucks; 500' of no.14 solid is 
over $40 at your typical big box store (this is the stuff
-- 

Kevin Kidd, CSRE
WD4RAT
mailto:kkidd at kkbc.com

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