Coal and Copper - we need these too right?
WW supply stress or hoarding? 🤔
Must not forget:
The harder China falls, the more collateral damage to US, including higher prices as we import fewer goods and more inflation.
METALS MARKET: The copper market is witnessing some **absolutely crazy** prices. The LME cash-to-3-month spread has surged >$1,000 per tonne, a record high. For historical perspective, the previous peak was $330 per tonne in 1996-97 during the Sumitomo's Hamanaka trading scandal
$UPST - some clients long since March. Not only recommended swing long strongly in Aug but updated regularly AND warned Oct 15th to trail stops at my $394 price target as it looked ready to 'trap longs'. 💃
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