Copper Futures (COPPER)

[nowwhat2]

Following up further....

The metal’s rally has been driven in large part by investors who see demand soaring as the green revolution gathers pace. But their early optimism may end up pushing up costs for governments as they start putting infrastructure spending packages to work.

https://www.engineeringnews.co.za/article/green-revolution-gets-more-expensive-as-copper-price-surges-2021-03-04


If copper’s rally proves long-lasting and pushes up the cost of green investment, some wind farms may use cheaper aluminum where they can. Prices have risen less sharply, up 28% in the past year compared with 62% for copper. Demand for aluminum in power grid infrastructure is estimated to reach 7.6-million metric tons by 2050, according to BNEF.


LAST Up 10.5 % to 32.78
March 3rd





LAST 4.07
https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=copper&x=45&y=18&time=100&startdate=1%2F1%2F2020&enddate=4%2F4%2F2021&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=3&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=9





Wow - These news reports on the day of this chart
http://ih.advfn.com/stock-market/NYSE/teck-resources-TECK/stock-news/84374235/teck-tops-q4-earnings-estimates-on-copper-price-st

http://ih.advfn.com/stock-market/NYSE/teck-resources-TECK/stock-news/84369759/teck-resources-eps-beats-by-c-0-07-beats-on-reven

http://ih.advfn.com/stock-market/NYSE/teck-resources-TECK/stock-news/84367873/teck-resources-declares-cad-0-05-dividend

http://ih.advfn.com/stock-market/NYSE/teck-resources-TECK/stock-news/84364112/teck-resources-q4-2020-earnings-preview

Last but not least
http://ih.advfn.com/stock-market/NYSE/teck-resources-TECK/stock-news/84387279/copper-miners-rally-as-metal-soars-to-nine-year-hi



Those reports there to go with this earnings-date chart :



The reports were all "glowing" (I'm currently assuming) but the share price just totally and absolutely TANKED.....


Which I suspect is due the above COPPER chart......* Prices are encountering Resistance



It's just "all-about" the $25 Level in Teck Corp and the $30 Buck Level in Alcoa and the $4.50 Level in Copper !




Nice !