Copper market’s biggest whale fuels speculation of a major shift
The world’s single biggest buyer of copper, State Grid Corp. of China, has slowed its purchases of copper wire this year.
As I mentioned in my previous post on silver, I think the price adjustment in silver will be on-going as several relationships revert to their means (gold and silver miners in particular). However, in the meantime, I still consider silver a buy here as long as it is accumulated in phases or stages.
Commodities in general are getting crushed as it appears some major (leveraged?) players are getting squeezed out the market and forced to liquidate in the face of numerous hikes in margin requirements. As I suggested earlier, these squeezes could have ripple effects into other asset classes
