Copper Tuesday May 3rd



China’s economy is still quite precarious as speculators grapple with the uncertainty.

China’s local governments have embarked on a massive new round of off-balance sheet debt financing, underpinning a fragile upturn in the economy but raising red flags on financial stability.  Shanghai Futures Exchange copper traded up 1 percent at 37,510 yuan ($5,794) a tonne ($2.63/lb).

May COMEX 223.95, down 2.20 ¢

Jun COMEX 224.20, down 2.20 ¢

Jul COMEX 224.40, down 2.25 ¢

LME 3 Month Copper 4,966.00, Cash = 225.30 ¢/lb

COMEX Stocks down 304 mt. Total COMEX 59,112 mt

LME Stocks up 5,175 mt. Total LME 154,675 mt

Shanghai Stocks down 19,795 mt, Total Shanghai 311,894 mt (29APR16)

Stocks GT:  525,681 mt

Euro 1.1557

WTI Crude Oil 44.49, down 0.29

Brent Crude Oil 45.61, down 0.22

Spot Gold 1,297.40

Founder and President of Vertical Datacom, Inc

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