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Copper today

Definitely the most interesting chart in the metals stable:

The wise tell me it's due to profit-taking. Ok I believe that, but it also means the move up was largely speculative, which begs the question on what price is truly supported by fundies rather than market hot air.

PS: Have to applaud HudBay's (HBM) timing, the C$242m financing announced at the close yesterday is a bought deal and therefore somebody else's problem.