Last 5 posts


Welcome to Lord Copper

Opinions about lots of things - mostly related to the worlds' metal markets


14 April 2021

The recent enthusiasm for revisionist history prompts me to recall the oft-quoted remark which opens J P Hartley’s 1953 novel, “The Go-Between”. The past is a foreign country; they do things differently there.


Hold the hair shirt

07 April 2021

‘There are classes of men in the world who bear more the same relation to society at large, that the wheels do to a coach: and are just as indispensable’


Exit, stage left. (But please don't build a monument.)

31 March 2021

‘All the world’s a stage, And all the men and women merely players; They have their exits and entrances, And one man in his time plays many parts..' Careers come and go, and in a single working life many parts are played; employee, manager, owner maybe. Often the departure of others is noted but not always mourned. Exits create space. There are not many obituaries to metal men. Blue plaques are there none.


The Inflation Genie

24 March 2021

The current monetary supposition based upon the direction of long term bond yields in the US suggests inflation is on its way. This assumes that vaccines do their job and that reopening trade remains viable. Pent up demand is a buzz phrase, suggesting that cash on the sidelines is ready to pounce as consumers emerge from lockdowns ready to spend their savings from all of the free government handouts.


Option Master

17 March 2021

It may be a surprise to some of the current generation of LME traders, but it’s not that long ago - well, a generation, I guess - that the LME options market was probably best described as somewhat chaotic.


Lord of the Ring

10 March 2021

We’ve written quite a lot here recently about the LME Ring. But after all, what is it? A circle of red leather chairs with a bunch of banks of telephones behind it, silent, empty and lifeless.


The Metal Merchant's Ghost

03 March 2021

A trainee metal merchant might do well to read some of the wider literature on the iniquities of the resource industry before crossing the threshold into a life in metals. And I would put Adam Hochschild's 'King Leopold's Ghost' high on the list.