#marketfail
marketfail
9 views
2 Discussing
Hot
Latest
GOLDMAN SACHS BLEW IT. REALITY HITS HARD.
Experimental data shows a 35% collapse probability for Chinese copper smelters. Goldman Sachs predicted a mere 6.4%. They were six times off. This is a catastrophic commodity market miscalculation. Chinese smelters process 44% of global copper. They are now losing money refining it. Spot treatment charges are negative $65/tonne. Smelters are PAYING miners for ore. They survive on sulfuric acid (40% revenue), gold recovery (35%), and cathode premiums (25%). Goldman missed the interconnectedness. Massive error.
DISCLAIMER: This is not financial advice.
$XCU #CopperCrisis #CommodityShock #MarketFail 🤯
Experimental data shows a 35% collapse probability for Chinese copper smelters. Goldman Sachs predicted a mere 6.4%. They were six times off. This is a catastrophic commodity market miscalculation. Chinese smelters process 44% of global copper. They are now losing money refining it. Spot treatment charges are negative $65/tonne. Smelters are PAYING miners for ore. They survive on sulfuric acid (40% revenue), gold recovery (35%), and cathode premiums (25%). Goldman missed the interconnectedness. Massive error.
DISCLAIMER: This is not financial advice.
$XCU #CopperCrisis #CommodityShock #MarketFail 🤯
Login to explore more contents