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Base metals, miners jump as China weighs big stimulus

Copper pipes on warehouse.

Axe_Olga/iStock via Getty Images

Base metals and related equities look poised for a strong rebound Thursday after recent declines, as China reportedly is considering a $220B stimulus package to boost its economy.

Bloomberg reported that China might allow local

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Comments (43)

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Djreef1966 profile picture
As I have said.
PRC/PLA will use metals for warmongering, building nuclear submarine bases around the Indian Ocean where it has land access via Myanmar, hypersonic missiles to heighten hegemony, weapons to crush democrats in HK and threaten Taiwan and SE Asia, and sustain invaders in Ukraine. Weakened by the forced exit of its charismatic leader, Britain will focus on rising costs, illegal migrants, identity politicians stealing jobs from native ethnic Britons to create a powerlist, sacrilege of heritage by torchbearers of black supremacy staging statue stunts while killing one another in London and other iconic cities. Decolonisers undermine the monarchy, promoting critical race theory, demanding reparation instead of choosing repatriation to AU domiciles of origin to electrify the continent with Sahara solar and live happily ever after among lookalikes in 1.2 billion acres rolling in precious metals, being grabbed by totalitarian tyrants bribing despots, and in tobacco earning revenue amid militancy, rivalry and disease.
@Blue Blood Sounds like an apocalypse is coming.
Djreef1966 profile picture
@Blue Blood Wow, agenda much? You earn a mute!
The iShares PICK ETF also had a very healthy day.
Long PICK, RIO, HBM, and MT.
This also seems to have done some good for bulk shippers. Long SBLK.
Now we can watch and see if Mr. Market will sustain this trend.
$clf closed just about at the lows for the day. Stock is dog meat.
Klutzy627 profile picture
@johnberchick NUE, VALE, FCX

I like these - what do you think?
Up, down, all around.
These words are very very important for all mining CEOs.
Markets can switch in days or weeks. Never invest in growth again.
Let the financial industry print their needed metals.
The risk for growth projects is always too high.
It takes years to keep a new mine running.
But, it takes just days or weeks to destroy metal markets.
Not long ago copper was the star metal for the hole decade.
Now, it is bullshit. Never any growth projects!
Michael Bryant profile picture
"If Europe runs out of gas, a risk, copper prices could decline to $4,500/t."
-- I'm pretty sure Europe will run out of gas, or at least get close to it, as the Freeport LNG terminal is expected to be offline till next year, which is when France recently said that they will run out of gas if they get a harsh winter. It will likely take more than 6 months for Europe to expand their LNG terminals and capacity.

"Bloomberg reported that China might allow local governments to sell bonds to raise money for infrastructure spending, which could pull in as much as $220B."
-- MIGHT. Yesterday they went in lockdown. Now they are thinking about stimulus. Let me know when it happens.
@Bruce Bohannon Yeah China likes to TALK the markets in one direction or the other more than they like to take ACTIONS to move the market in one direction or the other.
How much of our SPR are they buying with those funds?
@goodfellasfinancial lol almost all the SPR sales are effectively going overseas. Joe basically transferred the US SPR to China’s
@vxmike That’s okay they need it more than us. USA has plenty of oil. What we need is more refineries designed to process the US light oil, instead of imported heavier crude.
Matching refinery processes to utilize US crude would be strategic.
@litwos it’s likely another refinery will never be built in the US though
China coming out of Covid hibernation is great news for commodities and miners
@m63333 also good for shippers and energy.
Djreef1966 profile picture
@frogmaier Long RIO, GNK, SBLK, BABA
TheOldHand profile picture
@m63333 The covid hibernation liberation remains uncertain. May I recommend a YouTube channel "China Update" which provides daily information on the overall China situation. Personally I am hopeful on China, but uncertain.
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