Video: Copper Stockpiling and Crude Refinery Rates
January 27th, 2010
In this video ONN‘s Kevin Cook and David Hightower from www.futures-research.com talk about the recent developments in the copper stocks and the drawdown in the U.S. oil refinery. Big copper consumers a simply stockpiling copper, while the falling crude refinery rates suggest that in a short-term perspective the economy will continue to decline, pulling the commodities down. But the general supply and demand picture didn’t change much, as the normal supply is still higher than the demand in most commodities, suggesting a long-term bullish picture.