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Thread: Ammo's BOUND to get cheaper, RIGHT?

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    Senior Veteran The War Wagon's Avatar
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    Lightbulb Ammo's BOUND to get cheaper, RIGHT?

    Perhaps not.

    Keep in mind - brass is made with copper, too.


    Copper breaches $9,000 a tonne in bet on economic bounce and supply limits


    Industrial metal hits its highest level in a decade as global demand increases




    A copper refinery in Russia.

    Production is failing to keep pace with demand in China and the rest of the world, where consumption is rapidly picking up Copper production is failing to keep pace with demand in China and the rest of the world, where consumption is rapidly picking up.

    Copper, the world’s most important industrial metal, climbed above $9,000 a tonne for the first time since 2011 on Monday, fuelled by speculative bets on higher prices from China. The number of copper futures contracts outstanding on the Shanghai Futures Exchange has jumped sharply since the end of the lunar new year holiday, according to brokerage Marex Spectron.

    After rising 8.1 per cent on Thursday and 6 per cent on Friday, open interest in those copper futures expanded a further 6 per cent on Monday to 365,000 contracts, as investors bet on further gains for the metal, used in everything from household goods to wind turbines.

    Marex reckons the net speculative long position on the Shanghai exchange — the difference between bets on rising and falling prices — is more than 100,000 lots and close to the highest level since 2017. “It has been an exchange-led, speculative move but there are good reasons for it,” said Mark Hansen, chief executive of Concord Resources, a London-based commodity trader.

    In early trading on Monday, copper rose as much as 4 per cent to $9,269 a tonne before pulling back to $9,060. The metal is already up 15 per cent this year, a performance that has boosted the stock prices of leading producers including Glencore, Freeport-McMoRan and Antofagasta.
    We have no government armed with power capable of contending with human passions unbridled by morality and religion. Avarice, ambition, revenge or gallantry would break the strongest cords of our Constitution as a whale goes through a net. Our Constitution is designed only for a moral and religious people. It is wholly inadequate for any other. - John Adams, 2nd U.S. President -

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    Don't pay too much attention to articles talking about short term commodity market volatility. They are like all the articles last week about magnetic field weakening causing extinctions.

    The copper market goes up and down, like any other market. Most of the gain this year is due to reduced production thanks to the plague. This time last year it was around $2 per pound, now its twice that. Economy was scared sh**less last spring, now its back on the upswing and commodities required for production reflect that. It should be running around $3/lb, it will likely come back down to that soon assuming Biden doesn't try to "fix" the problem.

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    Tool steels in general are showing similar increases in price. Lots of grumbling on machinist boards. It's going to be a hard pull to recover from last year's losses.

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    Senior Veteran sdk1968's Avatar
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    prices they want to pay for scrap brass havent changed at all here....
    say what you mean & mean what you say!
    TEC Tactical=SOT/07 i work there.

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    Senior Veteran The War Wagon's Avatar
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    Quote Originally Posted by jdowney View Post
    it will likely come back down to that soon assuming Biden doesn't try to "fix" the problem.
    SlowJoe's "fixes," are what's driving the BOOM in commodities!
    We have no government armed with power capable of contending with human passions unbridled by morality and religion. Avarice, ambition, revenge or gallantry would break the strongest cords of our Constitution as a whale goes through a net. Our Constitution is designed only for a moral and religious people. It is wholly inadequate for any other. - John Adams, 2nd U.S. President -

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    Quote Originally Posted by The War Wagon View Post
    SlowJoe's "fixes," are what's driving the BOOM in commodities!
    Nah, it doesn't work that way. Commodities are up because the economy has been reviving after the mess that was the first 3/4 of 2020 - commodities have value because they are used to make things or get eaten. Biden hasn't been in office long enough to have an effect on the prices yet, so as supply catches up with demand the prices should come down a bit from what people are wringing their hands over right now.

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    I hope your are right.

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    Senior Veteran The War Wagon's Avatar
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    Copper's already coming down off these record highs, but it's not reflected in the ammo prices yet.
    We have no government armed with power capable of contending with human passions unbridled by morality and religion. Avarice, ambition, revenge or gallantry would break the strongest cords of our Constitution as a whale goes through a net. Our Constitution is designed only for a moral and religious people. It is wholly inadequate for any other. - John Adams, 2nd U.S. President -

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    I think prices will eventually stable out at lower prices than right now. Although they will never be as low as they were a couple of years ago.
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