Copper Futures (COPPER)

[NYBob]

As of Thursday, overseas investors will be able to trade copper
futures on the Shanghai International Energy Exchange.
China Wants a Made-in-China Copper Price
Bloomberg
Clara Ferreira Marques
,Bloomberg•November 15, 2020

https://s.yimg.com/uu/api/res/1.2/c1rBekQIwH6CAqSd3bsjXg--~B/aD0yMDIwO3c9MzAwMDtzbT0xO2FwcGlkPXl0YWNoeW9u/



(Bloomberg Opinion) -- China’s next move to open up its commodities markets may be a step change.

As of Thursday, overseas investors will be able to trade copper futures on the Shanghai International Energy Exchange. It’s not the first such product: A yuan-denominated crude oil contract, launched in March 2018, has been modestly successful. A subsequent push to let foreigners trade iron ore in Dalian established a global benchmark. Copper could outshine these efforts, thanks to fortuitous timing, global appetite for an economic bellwether and the sheer clout of the world’s largest consumer.

The ambition is clear. Beijing wants increased pricing power in the commodities markets it dominates, specifically when the country imports that ingredient. It no longer wants to be just a price taker. China also wants to bolster use of the yuan for transactions overseas, part of a sputtering, long-term strategy to raise the profile and influence of the currency. At the same time, the government wants domestic companies to do more to hedge against volatility. Allowing foreigners to trade oil and iron ore — along with rubber, low-sulfur fuel oil and purified terephthalic acid or PTA, a petrochemical derivative — goes some way toward all of that.

Copper promises to be an even bigger advance. The metal is a key indicator for an economy that has recovered faster than the rest of the world from the coronavirus. While there is an existing contract on the Shanghai Futures Exchange, intended for local traders, the new one, traded on subsidiary INE, will be open to foreigners. The contract size is the same, but this one will exclude tax and customs duty, and will be delivered into bonded warehouses, helping it compete actively with the London Metal Exchange.

Benchmarks are hard to create, as the oil market shows. Initiatives to shift away from established U.S. dollar contracts, such as Urals crude on the St. Petersburg exchange, have faltered. Shanghai’s yuan-based contract is the country’s first, and perhaps most dramatic, endeavor in international futures markets. While performing relatively well, it hasn’t become an indispensable benchmark or caught up with Brent and West Texas Intermediate in volume, let alone in open interest, the number of futures contracts outstanding. A worrying spread that opened up in the spring, suggesting a distorted market, has now rebalanced.

Story continues

https://news.yahoo.com/china-wants-made-china-copper-230002402.html

https://nevadacopper.com/news/nevada-copper-provides-operations-update-and-announces-filing-of-q3-2020-financial-statements/

Share Statistics Avg Vol (3 month) 3 1.75M Avg Vol (10 day)

Share Statistics

Avg Vol (3 month) 3 1.75M
Avg Vol (10 day) 3 4.14M
Shares Outstanding 5 1.49B
Float 327.71M
% Held by Insiders 1 41.19%
% Held by Institutions 1 25.21%
Shares Short (Oct. 15, 2020) 4 1.08M
Short Ratio (Oct. 15, 2020) 4 1.38
Short % of Float (Oct. 15, 2020) 4 N/A
Short % of Shares Outstanding (Oct. 15, 2020) 4 0.07%
Shares Short (prior month Sep. 15, 2020) 4 1.21M

https://ca.finance.yahoo.com/quote/NCU.TO/key-statistics?p=NCU.TO

Some short selling have been going on and they should dive
for cover, imo!

RE:RE:RE:What we know so far
RE:
Insider Summary
Last 12 Months
2,531,000 Shares Traded

12 Buys / 2 Sells


https://stockhouse.com/companies/insiders?symbol=t.ncu


Iorich, Vladimir
Ex...
https://www.celebritynetworth.com/richest-businessmen/richest-billionaires/vladimir-iorich-net-worth/

Ex. Iorich Vladimir bought in NCU for a much higher price and I am sure
he still will be doing very well on the LT longer term
Imo!

Nevada Copper - Pumpkin Hollow Project Extract -

https://www.youtube.com/watch?v=fMZC65A7GPk

https://www.youtube.com/watch?v=rFw0OFaTHKs

https://nevadacopper.com/news/

https://nevadacopper.com/investors/presentations/

Gold will benefit from gov't stimulus, but copper could run further
Michael McCrae
Friday October 23, 2020 18:24

Kitco NewsShare this article:
The Democrats stimulus plan will be postive for gold, but it will be
extremely positive for copper, said John Thomas Steen, associate
professor at the University of British Columbia's mining school.

On Friday Steen joined Kitco Roundtable to discuss stimulus, renewables
and the electrification of everything, and the knock on affect on
metals, chiefly copper and nickel.
Steen was joined by correspondent Paul Harris; editor Neils
Christensen; and mining audiences manager, Michael McCrae.

Republican and Democrat leadership are negotiating COVID-19 stimulus
package in excess of $2 trillion.

President Biden is ahead in the polls, which could tilt the eventual
stimulus to policy goals favored by Democrats.

"A Biden win is extremely positive for copper. The estimated cost of
preparing the electricity grid in the U.S. ... is about a trillion
dollars.
That's a huge stimulus, but it's a wicked amount of copper,"
said Steen.

Steen argues that the whole story of battery material demand seems to be
driven by cars and Tesla, but that misses a larger picture.

"In the mining space, we have to look beyond the cars.
Cars are getting a lot of attention [due] to the magnetism and charisma
of Elon Musk, but there's a much, much bigger story here.
It's the electrification of everything."

Steen notes that China plans to use its stimulus to decarbonise, and
4,000 tonnes of copper are needed to produce enough solar panels for
1GW of electricity.

Big miners like Rio Tinto and BHP Billiton are preparing for future
copper demand.
In the spring the number two gold miner, Barrick Gold, said it is on
the hunt for copper deals.
Earlier this week Newmont's Tom Palmer told Reuters that copper will
account for up to one-fifth of the metal produced by the end of the
decade given its current project pipeline.

Copper is currently trading at a two-year high.

By Michael McCrae
For Kitco News


Contact [e-mail]

www.kitco.com

Nevada Copper Corp Ord TSX:NCU Alternate Symbol(s): NCU.W | NEVDF


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Gold & Silver bulls starting to break out > ^ > ^ > ^

https://www.youtube.com/watch?time_continue=5&v=RDZQoQ61RrY&feature=emb_logo