@ woernieKupfer mit amassiver Outperformance ! (Inflation ick hör Dit trapsen)
vorbildlicher Backtest bei Kupfer ! 
How Copper Is Defying Weakness in China to Make A Serious Bull Run
By Alex Kimani - Apr 25, 2024, 6:00 PM CDT
Last week, copper prices soared to a two-year high just shy of $10,000 per ton.China’s refined copper imports are up 20% in the year-to-date.Citi has predicted that copper prices could skyrocket to $12k/t over the next three months.
The entire base metal complex has been bullish in the current year, led by a 37% surge by tin and 17% by copper despite a weaker Chinese market and the U.S. dollar strengthening against major world currencies. Last week, copper prices soared to a two-year high just shy of $10,000 per ton largely spurred by a combination of positive investor interest--as evidenced by increasing bullish positions in Comex futures--and supply concerns due to mine-supply downgrades.
Still, the Chinese market continues to send mixed signals. On one hand, macro indicators (apart from the still-depressed housing market) have picked up. To wit, China’s GDP grew 5.3% in the first quarter, beating the analysts consensus at 4.8% and much better than 1.6% growth posted the previous quarter.
Meanwhile, China’s refined copper imports are up 20% in the year-to-date. On the other hand, copper inventories at the Shanghai Futures Exchange (SHFE) have continued to build and recently hit their highest since the pandemic-related highs of April 2020. Further, copper spot premiums are still soft, while the Yangshan copper imports premium has dropped to historical lows, reflecting weak spot demand conditions.
The latest Commitment of Traders (COT) report by the CFTC reveals that net managed-money copper futures positions in the week ended 16 April built by a further 3.8k lots (after rising by 33k lots in the previous week) to 47.1k lots--their highest since October 2021.
No wonder...dass unsere beiden chinesischen Minen, die unter anderem auch Kupfer im Repertoire haben, am Anschlag sind. 