albert.callisto
Short

Copper - bearish

FX:COPPER   Copper
113 0 2
Daily Ichimoku shows a bearish copper             with some attempt to reach the cloud. But the Kijun and the cloud bottom are offering some good resistance. We will see if the Kijun holds or not. Considering other indications provided by Ichimoku , it is more likely that the bullish momentum will be stopped.

Fundamentals
Production increased, demand decreased. This is an oversimplification of the copper             market but I think it's worth considering.

Source: http://www.icsg.org/index.php/64-icsg-releases-new-edition-of-the-directory-of-copper-mines-and-plants (Report from 20th Jan 2016).

In developing its global market balance, the ICSG uses an apparent demand calculation for China—the leading
global consumer of copper             accounting for about 45% of world demand (...). In the first ten months of 2015, world apparent usage is estimated to have declined by around 1% (210,000 t) compared with that in the same period of 2014. Excluding China, world usage declined by around 3.5%. Although Chinese apparent demand increased by around 1.5%, usage declined by 4.5% and 7% in the EU and Japan, respectively, and by 46% in Russia (following the withdrawal of Russia’s cathode export tax in September 2014). On a regional basis, usage is estimated to have increased by around 1% in Africa, in Asia and in the Americas, respectively while declining by around 10% and 60% in Europe and Oceania, respectively. World refined production is estimated to have increased by about 1.8% (330,000 t) in the first ten months of 2015 compared with refined production in the same period of 2014: primary production was up by 2% and secondary production (from scrap) remained essentially unchanged.
.

Related Ideas

Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out