Re: Re: Re: Re: Re: Copper cathode - Spot the Fraud
Posted 29 Oct 2006 00:34
28. Offers of anything over 1000mt. New contracts issued by mines are always cautious.
The mine is not going to forsake its major clients and customers for some unknown buyer off the internet
29 Mines will only sell free copper to known end users. This means that brokers and traders are precluded
The reason for this is mines have major clients in copper consuming regions and the last thing they need is a conflict of interest arising
This effectively is an arrow in the heart of people who believe that they can sell cathodes on the internet.
If you get an offer to buy, ask the person if they are the end user. You will get a response saying " No , I am the buyer's mandate" or some foolish response which typifies a broker