Copper LME has held steady over the last month at £5.85 / kg while LME bonded stocks have fallen to below 100 kT.
Unless supply increases to rebuild stock levels the price of copper will increase further as dealers who have been holding off ordering for stock have no option other than to buy at the current, relatively high, price.
No dealer would want to be sitting on expensive stock if the price falls but unless supply side issues can be resolved then the current global shortage of copper will continue.
Speculation in copper futures is driving the LME price of copper up to levels not seen since 2011. A resurgence in COVID mutations is likely to dampen the global economy and ease pressure on the price of copper.
However, long term price stability will only happen if supply exceeds demand enought o rebuild physical stocks, and that could be hampered by a resurgence in virus outbreaks until there have been enough vacinations globally to bring the pandemic under control.
LME bonded Copper stocks fall below 100 kT , way below their usual range of 200 kT to 300 kT.
Traders are either convinced that demand will drop to below supply or that supply will ramp up to exceed demand. it’s interesting to note that the last two dips in copper stocks did not result in a price surge and in both cases supply was ramped up to meet demand.
Will suppliers be able to ramp up production during the Covid-19 pandemic ?
Will South american producers be able to ramp up production during the current drought ?
Rory just left a new 5-star review of Copper Braid Products:
We required a number of earth braids to a custom specification for a high voltage cable installation. The required parts were manufactured and delivered in 2 working days and are of excellent quality. The price is very competitive. I wont look anywhere else next time I need earth braids.
Copper price is holding steady at £5.15 / kg as bonded warehouse stocks fall to 145 kT.
The falling copper stocks are the result of supply chain issues rather than being driven by demand and the question is how long will it take for the copper producers to take advantage of the highest price in two years to ramp up their production in the current pandemic and climate environment ?
Also, how long will buyers be able to put off buying more copper at this price ?
Traders are unlikely to want to push the price above the last nine year peak and risk being caught out holding expensive stocks once supply recovers form the current disruption.
Using all the racers skills – especially chocolate and flowers – most members of Hawthorne Park Slot Car Club were able to attend round 4 of the Copper Braid Products sponsored 1/24th scale BRM Touring Car event held on the evening of 14th Feb 2020. Sadly a few doe eyed romantics preferred to spend time with loved ones….so the number of entrants was lower than usual at round 4 of this event.
Notable races during the night began in heat 2 – where Mike Guy and Ted Martin – both driving Escorts – engaged in a terrific race long battle for the lead – door handle to door handle – both lapping at record pace around the track. Eventually Ted was able to take the win, with both drivers earning a well-deserved round of applause from the spectators who enjoy watching such skilful and exciting slot car dices.
Mike Guy and his stable of 1/24th scale BRM Touring Cars
White Escort, Blue Kadett and Yellow Mini
As well as being one of the top racers at Hawthorne Park slot car club Mike has also been a key person in helping to develop and use the electronic lap timing and scoring system that underpins all of the races and results we are now able to produce – thanks to his skill and knowledge around computer systems.
Heat 3 saw Pete Wright running his Mini which was proving exceptionally fast on the straights – blasting past his competitors – only to struggle through the corners…setting up any race car – real or model – is always about finding the best ‘set up’ – and clearly Pete had the straights sorted but needed more work on quick times through the twiddly bits of the track…..
The connection between the model car on the track and the driver is via the ‘controller’ – an electronic device that enables the speed of the car to be varied – it also has an electronic brake to slow the model car down on demand. A modern slot car controller as used at Hawthorne Park slot car club is a sophisticated and expensive piece of kit – often with different and complex electronic aids which can be used to develop ‘feel’ and ‘harmony’ with the model car as it races around the track.
Unfortunately Mike Broadbent was having controller trouble during heat 4 – no brakes ! – but still enjoyed a good race with his Renault Gordini as evidenced by his smile in this pic.
Mike is well known around the Liverpool area for his skill and expertise in model engineering – not just slot cars – but model aircraft and model power boats – but the great atmosphere and competitive racing at Hawthorne Park slot car club are presently enthusing Mike to the extent that slot cars are now his primary interest. Mike is also developing a reputation as someone who has a keen eye for finding slot car bargains – often causing huge envy at the club by showing off his latest purchase of a rare and/or very fast slot car….at an incredible bargain price…..quickly building up a personal collection of top notch slot cars.
Heat 6 saw another great race between Ted Martin – this time driving his Mini Cooper– and Mike Guy – now driving his Opel Kadett – again racing side by side but this time both flat out and each taking turns at leading by an inch or two – the battle was so intense that both drivers set personal lap records …
8.758 for Ted
8.745 for Mike
I hope that shows how close this race was….Mike was fractionally quicker but Ted just got his car in front to take another great win – again both drivers getting a huge round of applause from the spectators.
The Ted Martin Mini Cooper cooling down after winning heat 6
Heat 7 saw another exhibition of skilful driving as Phil Clayton drove his pretty – but tricky to drive – Renault Gordini to a close second just behind the Escort of Pete Crane.
Phil has a long history of supporting and leading Hawthorne Park slot car club and is the person club members turn to for help and advice regarding anything to do with slot cars, Phil was also instrumental in bringing the BRM Touring Car Class to fruition within the club and has helped many club members to tune up their cars.
The last heat of the night saw a truly great drive by Ted Martin who managed to snatch the overall win on the night by a 7 foot margin along with a new outright lap record for this class – 8.5 seconds.
Ted Martin total laps …..78.499
Pete Crane total laps…..78.222
Paul Minnis may not have had the best night in terms of his race results, but all members of the club complemented him on his choice of colour scheme for his Mini Cooper which looked stunning on the track – Paul is a regular class winner at other Hawthorne Park slot car events and hopefully will get his Mini sorted ready for the next round of the Copper Braid Products Ltd sponsored series.
After another great nights racing, it looks like Ted Martin is starting to look like the favourite to take the magnificent Copper Braids Trophy home , but with 2 rounds still to take place nothing is yet certain…..
Round 5 will take place on Friday 17th April (since postponed due to virus restrictions) at Hawthorne Park slot car club, and a full entry is expected……
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