Grar,
That chart tells you nothing about the Chinese market. The copper market is not the exclusive domain of China. There are other major players looking for long term Copper supply security.
It may interest you to note that a MMG led consortium (China Minmetals ) purchased a copper play in Peru for a huge amount of money as a STRATEGIC investment.
http://www.bloomberg.com/news/artic...-buy-glencore-copper-project-for-5-85-billion
There are other Asian State players, that I know of, who also want STRATEGIC stakes in copper plays globally , one in particular prefers Australian supply. Think about it.
It's all about strategic supplies not the daily nuances of the ASX copper stocks...this is a long term strategy by the users who obviously will take advantage of market conditions and exchange rates to secure life of mine product.
CDU, in my opinion, is not mining the shareholders pockets... it is doing its best to get product out the door under extraneous duress... the resolve is there but who knows what other peoples agendas are.
Any ASX listed company Shorters do not help the long term holders cause, whatever the companies are involved in... nor do they help the listed company (shorters' target) get the Co target results that you might expect in a level playing field.
This is not a conspiracy theory .. the evidence is overwhelming in all sectors on the ASX .. How do you stop it? buggered if I know ..a lot of political and regulatory will is required... I see no evidence of this overwhelming will by the regulators at the moment. I am sure Max W knows this as do other fighters for a level playing field know... Pity really ... is this game fixed because too much money is involved?
The shorters catch cry is .. it provides liquidity in the market .. who wins? ..the minority shareholders or the majority punters,who usually hold less $ value and votes than the top 20.
What's fair about that???
Not much!
Like it or lump it ..these are my views.
Cheers
HR
No advice given or intended. I do not hold any Australian stocks.. is it any wonder. DYOR