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Copper Limit Down In Shanghai; Falls To Lowest Since July 2009
Following a triumvirate of macro misses from AsiaPac (South Korea unemployment surged, Aussie confidence plunged, and Japanese inflation tumbled), the credit concerns running riot through the collateral underlying China's shadow banking system continue to crush Copper (and iron ore) prices. Copper is limit down in Shanghai at its lowest since July 2009 - these size moves have only occurred twice in history (Lehman and the US downgrade). Japanese stocks are ignoring any ramp efforts in USDJPY and US equity futures are fading qucikly with AUDJPY....
A sprinkling of headlines from this evening:
- South Korea unemployment jumped to 3.9% (exp 3.2%, prev 3.2%) - highest in 3 years
- Aussie Consumer Confidence dropped to 10-month lows
- Japanese Producer Price Inflation (Domestic Corporate Goods) MoM -0.2% - biggest deflation since Dec 2012 and YoY slowest since June 2013
- *JAPAN'S NIKKEI 225 DROPS BELOW 15,000
- *JAPAN'S NIKKEI 225 EXTENDS LOSSES TO 2%
- *COPPER IN SHANGHAI DROPS AS MUCH AS 5.2% TO 43,800 YUAN/MT (close to biggest drop since Dec 08)
Leaves copper echoinG Lehman and the US downgrade...
With the Nikkei unable to catch a bid from JPY ramp
and S&P futures continuing to track AUDJPY lower..
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Look at Gold! Up to $1358 and rising!
I see $1,350. where do you see $1,358 and rising?
Kitco... it topped at 1358. We're at 1356 now.
Got it thanks.
Come on folks, do your civic duty and start buying copper futures.
same game, different night
paper gold is bid overnight in Asia and gets sold down the river when either London or Chicago opens
one could almost suspect the paper gold pushers are scalping the Asian buyers
Yeah. Yeah. We get it. China fall down go boom. How long have you been predicting this shit? Bastards.
I smell panic. ...short the next rip
Most people are getting ripped in their shorts...
yea, its hilarious how on so many closes of western markets the price ends in a 9
$1329, $1339, $1349 - they use just enough dry powder to acheive that 'psychological effect'
Hope this translates into cheaper full metal jacket ammo.
Ahhh shit... my 2 tons of pre-1982 pennies is losing value!
Too bad you can't BTD on those coins...
you could if the Government would mint actual money for the first time in forever.
There is always copper boolits.
What the greenies call 'eco-friendly' hunting rounds.
http://atlantica.wikia.com/wiki/Copper_Bullet
lol
something looks tired tonight Chump.
China's testicles.
>> pre-1982 pennies
Pre 82? I thought it was post '82. Dohhh!!!!
So what is Kyle going to do with that $1 million worth of nickles?
On CNBC they have ONE innane article talking about the drop in Copper being somehow vaguely related to a slowdown in the world economy. Not a damned CLUE about copper being used heavily as collateral for Chinese loans.
Hats off to the Tylers for their coverage of this (and the related iron ore collateralization scheme) or I would be clueless about these sudden moves.
That's it. I'm done making out with the Tylers for a while. In two weeks I'll be back to asking "what have you done for me lately?" This is still Fight Club, after all.
couldnt agree more , zh rocks
Dr. Copper, give me the news
They've got a bad case of rehypothecation blues
ZH has made me look like a genius,not for investing but all the bullshit games going on.
I saw an article on Bloomberg about how copper was falling due to the Chinese exports miss (-18.1% YoY) and reduced demand. The article went on to say that copper/iron ore being used as collateral for shadow banking was "anecdotal."
Gee, there is a worldwide slow down? Just like the slowdown since 2008? Sorry, I missed the recovery in between because I ditched wall street...but I feel cleaner. The slowdown will continue until the reset.
Fiat is still crazy in its race to the bottom.
Long fish ponds.
copper production is very "whether" related....
What, whether we spell weather right?
Any paper gold gains will be promptly dealt with between 9:30 and 10 am EST. Thank you and please drive through.
Anyone seen Akak lately?
He's helping AnAnalogous repurpose his basement for the Zombie Apocolypse Kegger
Holy shit! Akak has been banned!
http://www.zerohedge.com/users/akak
Akak? Never heard of him. No such person.
(Holy shit! Did he get banned or resign his gamertag voluntarily? He's been wiped from the face of the earth, apparently.)
We may never know. He never posted anything that outrageous that I can remember.
Yeah, that's pretty much my assessment, too. I don't recall him running afoul of any stated ZH policies in any serious way. Others have gone MUCH further in their comments and with much regular frequency before being booted. That's why I'm wondering if he just hung up his skates or something.
I chatted briefly with Akak earlier today. He did not get banned nor did he run afoul of any ZH policies. You folks should just move along, there's nothing to see here.
I am Chumbawamba.
Holy shit! Akak has been banned!
I protest! Bring that asshat back.
His name was AKAK...
No he's been temporarily "reassigned" to roadside clean up
<----sarc you mort
Akak is a good dude and a rational and intelligent person. If he is banned from here we may as well all close up shop.
+1
and he pounces on Chicom trolls relentlessly, there's no rational reason for him to be banned. I put his absence down to the "weather".
Yep. Akak is a righteous dude who is a Chinabot Troll Slayer.
If he was involuntarily banned, WTF.
For fuck's sake, Akak is banned for what?
Question of the day. No clue.
The Chicom agenda must now have a backer at ZH, can they even pronouce ZH?
here's his last comment that i could find;
Sat, 03/01/2014 - 22:36 | 4495442akakVote up! 18
Vote down! -8
You're apparently treading a very thin and dangerous line there, LTER. I just saw a similar post get deleted right in front of my eyes a moment ago. Very sad.
Comments in ZChat indicate it was voluntary. No explanation given.
then it's just the booze talking, when Ananalogous Anus starts blobbing up he'll be back to clean house
well if it's voluntary and you are out there Akak and seeing this, come on back man.
Oh, goddamit, just when we had a good conspiracy theory going. Fuck. You twitchy bastards had me thinking that ZH "hottubbed" one of it's own members. Fuck.
I'm thinking it's not voluntary. It's much easier to stop posting here. Here's the thread:
akak
akak's picture
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You're apparently treading a very thin and dangerous line there, LTER. I just saw a similar post get deleted right in front of my eyes a moment ago. Very sad.
reply
Sat, 03/01/2014 - 23:00 | 4495524sylviasays
sylviasays's picture
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You're apparently treading a very thin and dangerous line there, LTER. I just saw a similar post get deleted right in front of my eyes a moment ago. Very sad.
That's right, akak and LTER, that post was deleted as part of a vast right wing conspiracy!
Lay off the meth and crack!
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Sat, 03/01/2014 - 23:22 | 4495631akak
akak's picture
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Pardon me, you pus-oozing scabby snatch, but I WATCHED the post --- along with my attempted response to it --- vanish right in front of me as I was still composing my reply to it. So kindly go crawl back into your hole (before the crabs crawl back into yours).
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Sat, 03/01/2014 - 23:23 | 4495649maskone909
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Dood holy shit zh has been infiltrated wtf
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Sat, 03/01/2014 - 23:25 | 4495659LetThemEatRand
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Fucking invaded and an American flag in the shape of a bikini planted here.
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Sun, 03/02/2014 - 01:09 | 4496051Greenskeeper_Carl
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No shit? Wtf is this place reddit?
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Sun, 03/02/2014 - 02:32 | 4496157sylviasays
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Pardon me, akak you dickless old troll, but you tried to WATCH the post but your mind was so messed up with coke and meth that your old eyes couldn't focus on the screen. So kindly go crawl back to your tranny boyfriend.
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Sun, 03/02/2014 - 02:12 | 4496158sylviasays
sylviasays's picture
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Pardon me, you dickless old troll, but you tried to WATCH the post but your mind was so messed up with coke and meth that your old eyes couldn't focus on the screen. So kindly go crawl back to your tranny boyfriend.
Oh, yeah. THAT thread. I remember now. Damned odd business in that one. I was scratching my head over that one at the time. Now doubly perplexed.
Missing airliners with no debris field, now missing ZH members with no debris field. Time for a late night dip in my hot tub to clear my head, I guess. Hold my beer, I'll be right back....
that was March 1st, and then nothing, can't see him hanging it up, not his style......
not to worry....he'll be back and benching 2fity
That's the question. I know he was frustrated, as are many of us, at certain things lately. If he bagged it and closed his account I wish him all the best. if he was banned then this place died a little.
I'm hoping it's due to heavy workload; there is a surge of work up here right now and a shortage of available housing.
If your around in ER AKAK, let me know and I would gladly buy you a beer.
I agree Fonz. We should at least know WHY...
Yours is not to know why. Yours is only to say bye.
I am Chumbawamba.
What the actual fuck? We have been enemies of late, but there is no reason for him to be banned. I have more reason to be banned than him, given the extreme stance ZH has taken on "racism".
His name was Tyler Durden.
http://www.zerohedge.com/news/2014-03-03/ukraine-denies-russias-denial-c...
Is there a way to short vacant home pipe and wiring?
Or maybe this is bullish and I should be long? Huh!
All kidding aside, no, this one is not bullish. Not this time.
BTFD, the bank now refuses to sell me boxes of nickles or cents...they don't have them in the vaultand have to "order them"
but they can give me all the paper FRNs I want...WTF???
why is that WTF? paper beats rock (in the new normal)
clearly what's needed here is more obamacare.
Been long Gold and Silver for 8 years.
Last year tried out Russell and QQQ shorts...now my shorts finally fit !!
Win.
Deflation, monetary collapse, and market collapse concurrently should cause Gold and Silver up in massive adjustments.
Copper wll go down since it is all industrial, but need a lot of leverage to short Copper.
Is China's credit bubble imploding or not?
I wan't to know when I can point and laugh at those fuckers.
Start laughing now but make sure you're having the last laugh. Unfortunately our TBTF and stupid elite have sold us out to the China fraud for 2 decades at least. The Chinese bought a ton of assets in the West and are in a position to threaten our destruction if we don't bail them out or accept their lying and cheating as centrally planned truth.
Yeah well, Japan was supposed to take us over 30 years ago and look what happened to them.
These slimy Chinese thieves will fall 10 times harder.
Here's a little message to every zerobrain ZH poster from Podunk Iowa, you guys with your five million rounds of AR15 ammo buried in your basement, China, that is, the country known as China with 1.7 billion inhabitants, is using about half of the copper in the world.
So if you are paging Dr Copper, you better be speaking Mandarin, baby, not Amerimexicano or whatever version of English is used in the States these days.
You see Dr Copper, yell NI HAO!
Dr Copper was last spotted in a backstreet massage parlor in Dongguan getting an iced tea BJ. Dr Copper is feeling a lot better now, but his dipstick is pointing DOWN.
There's 1.7 billion of those locusts now?
God, they added an entire USA to their population since last week.
Let's review. China has been hoarding copper (and gold). China and Russia are becoming quite the close friends as of late. Copper is used when manufacturing bullets. The DHS is buying massive amounts of ammo (for our own safety, of course). Russia annexes Crimea with China's approval.
What could China doing with all of that copper?
http://dailycaller.com/2014/01/27/new-copper-bullet-explodes-on-impact-v...
Theres something wrong with that copper chart
I didnt think is was possible for a chart to trend that way
That chart is inconsistent with my understand of the world in which we find ourselves
And the collateral for miners is....? Get ready for the margin calls. HFTs awaiting the talking heads from Chinatown to Oblunder to Vlad to Yelland to that disgusting a-hole at the ECB. So far they are bid on the PBoC who are about to print on lower the RRR rate or build a warship or two.
Beautiful World
http://youtu.be/56u6g0POvo0
Surely this flagging demand for HG is bullish. I am pretty sure it means the economy has finally reached escape velocity because we no longer need to build actual things, we can just sell each other our houses and use our easily obtained obamabux to purchase more e-minis and fake likes on FB; next stop the moon!
Shanghai is bid, money printers are on. Now back to the missing plane. rumors that Malaysia military are covering something up, deny it flew off course.
CNBC Headline: Markets watching to see why copper getting scorched
LOL
Free Akak.
AkAk, we hardly knew ye
AKAK is a good guy. AKAK battled with Jon Nadler on Kitco back in those days before ZH even existed. I do not see any reason why he should have been banned. I might forget what we all said yesterday but I will never forget what AKAK did.
http://www.youtube.com/watch?v=FeLLR3LWtv4
H/T
I don't know anything about AKAK but after reading the posts here I looked for his last post and found this:
http://www.zerohedge.com/news/2014-03-03/ukraine-denies-russias-denial-c...
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Fuck you, Tyler(s).
When did ZH became a branch of Russian state media?
Go ahead and ban me already --- I am tired of this blatant one-sided bullshit. If I wanted to be told what to think, I would watch FOX News.
-----------------------------------
Are you allowed to say "Fuck you, Tyler(s)". Like the comma creates a reaql pause for effect there and am just wondering if that is crossing ZH's red line.
WE are about to see much weaker Stock market movement. Look to S&P beginning down.