Re: China releasing only 20k tonnes from strategic reserves

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CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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chunkytoast

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Re: China releasing only 20k tonnes from strategic reserves

posted on Jun 22, 2021 02:48PM

Currently China is using more than 50% of the worlds annual copper production. If anyone thinks they're going to sell low and buy back high they don't know China very well. everyone is predicting higher CU prices this year and much higher in the future. they are trying to talk the price down just like the Fed does on occasion.

Always remember, the rest of the world wants and needs Copper too, especially in the electrification of everything that is going on, and will continue for the forseable future. If they were stupid enough to dump copper it would be quickly be taken by all the other players that need it.