Jump to content

Copper


thekiwi

Recommended Posts

At the close of open-outcry trading, LME three-month copper was up some 6.2 per cent on the day at $US7,270 a metric ton, having been dragged out of a bear market by a strong surge of short-covering aided by a stronger euro, heightening the appeal of the US dollar-denominated metals to euro holders

 

Read more: http://www.smh.com.au/business/markets/wal...l#ixzz2SSr62TaV

=================

 

this is BS.

my guess the reason for copper to have that "monster" rally Friday session is that news of mass worker's strike in South Africa is looming! mainly from GlenCore--xtrata!

and shanghai copper stock file is running low!!

 

 

 

 

Link to comment
Share on other sites

  • 4 weeks later...
  • Replies 269
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Posted Images

Supply in the global copper market is widely expected to exceed demand in 2013.

 

However these projectionscan change at any time due to new development.

 

Sooner than later we should see end of downtrend pressurefor copper.

 

Copperprices would likely rebound in the next three to six months.

 

http://www.reuters.com/article/2013/05/31/markets-metals-idUSL3N0EC0GD20130531

 

METALS-Copper heads forgains in May after 3-month drop

 

My ideas are not a recommendation to eitherbuy or sell any security, commodity or currency. Please do your own researchprior to making any investment decisions. Please note that I do not endorse ortake responsibility for material in the above hyper-linked site.

 

 

Link to comment
Share on other sites

Copper futures rose to the highest in almost two weeks on prospects for reduced supply as the world's second-biggest mine remained closed following deadly accidents. Freeport-McMoRan Copper & Gold Inc.'s Grasberg mine in Indonesia will be shut for as long as three months while the government holds an investigation. Closing the mine for the entire period would remove about 140,000 metric tons of copper supply, according to Macquarie Group Ltd., about 20 percent of the investment bank's disruption allowance for 2013. "The potential for an extended shutdown at the giant Grasberg mine has helped lend support to copper prices," Leon Westgate, an analyst at Standard Bank Plc in London, said in a report e-mailed today. "The most immediate impact will be felt on the concentrate market."

 

Copper futures for delivery in July advanced 1.2 percent to settle at $3.369 a pound at 1:17 p.m. on the Comex in New York. Earlier, the price reached $3.3775, the highest for a most-active contract since May 22.

 

- A tunnel collapse at Grasberg on May 14 killed 28 people, and another worker died June 1 in a separate incident.

- A landslide in April reduced production at Rio Tinto Group's Bingham Canyon mine in the U.S.,

- output at Chile's Collahuasi also is limited.

- Vedanta Resources Plc, controlled by billionaire Anil Agarwal, said on May 24 that its Konkola Copper Mines unit in Zambia plans to cut 24 percent of the workforce.

 

As a result, copper supply is set to be curbed in what is normally a seasonally strong period for demand, according to Goldman Sachs Group Inc. The metal will trade at $8,000 a ton in six months, the bank predicted.

BHP Billiton Ltd.'s Escondida site in Chile is the world's largest copper mine.

 

 

 

 

 

 

My ideas are not my ideas; they are a mere rehash or cut-and-paste of other spruikers

Link to comment
Share on other sites

Very interesting. I believe there will be bull commodities and bull commodity stocks even in 2013.

 

I think it is time to study to identify coming bull commodities including emerging commodities and commodity bull stocks globally. Remember some commodities are link to population growth..

 

In addition current pull backs in some commodities ands stocks will give some great opportunities. Even there will be opportunities in Japanese market.

 

Copper is one of the important commodities in the commodity market and movements of copper prices can change direction of markets in some period.

My ideas are not a recommendation to either buy or sell any security, commodity or currency. Please do your own research prior to making any investment decisions

 

 

 

 

 

Link to comment
Share on other sites

  • 7 months later...

Opinions also seem to be divided on the outlook for copper. On the negative side:

 

Now the copper market is going to see oversupply at least through 2015 and 2016.

Source: http://www.businessweek.com/articles/2013-...st-edward-morse

 

But I prefer this one:

 

There are three reasons that copper prices may rise this year.

 

Chinese demand

The State Grid Corporation of China (SGCC), which provides power to 80 percent of the world's second-largest economy aims to boost by 13 percent its annual investment to more than $60 billion, according to research by Barclays PLC. Given that Chinese utilities account for more than 40 percent of Chinese copper demand, that sort of big jump in capital investment should firm up prices.

 

Supply growth [constraints]

Strikes, storms and scheduled maintenance of major copper processing facilities are flattening the growth in copper production. Barclays said in a Jan. 13 note that the rate at which global copper supplies are growing will peak this year and then begin to slow next year.

 

Global inventory

In addition to higher demand and production constraints, the global stocks of already-mined copper are tightening. A year ago, according to Barclays, copper stocks were about 1.46 million tons. That rose to 1.81 million tons in April of last year and has been falling ever since. On Dec. 13 global copper stocks had declined to an estimated 1.27 million tons.

Source: http://www.ibtimes.com/copper-prices-may-b...markets-1550555

Link to comment
Share on other sites

  • 7 months later...

While people are feeling depressed about i/o, how about a more cheerful piece on copper?

 

Copper Surfaces Will Save Lives

 

Roughly 1.7 million people get a healthcare acquired infection (HAI) each year. Of this, around 100,000 a year die from a HAI.

 

For over 100 years, hospitals have used stainless steel surfaces. This is because it's a hardy surface, doesn't rust, it's cheap to produce and easy to clean. Yet, the Staphylococcus aureus bacteria ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâہ¡ÃƒÆ’‚ more commonly known as golden staph ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâہ¡ÃƒÆ’‚ can live on a stainless steel surface for days if not cleaned properly.

 

Since 2010, various hospitals around the world have been testing out different medical surfaces made from copper or a copper alloy. Chile noticed a reduction in microbes 10 weeks into a 30 week study of using copper surfaces. Everything in the control rooms had copper surfaces, including the pens. And bacteria growth dropped by 90%. And golden staph? Well that bacteria barely lasted two hours on a copper surface. In fact, 99.9% of bacteria was 'killed' on copper tops inside two hours.

 

Given the health dangers and the cost to the economy, hospitals won't be able to ignore the data on copper surfaces for much longer. And this will be good news for copper stocks.

Source: http://www.moneymorning.com.au/20140927/co...save-lives.html

Link to comment
Share on other sites

  • 4 months later...

I have been waiting for Copper to break out ....stuck in a range at the moment...looking like an inverse Head and Shoulders on daily.though the long tail on 14th Jan may cancel that out....may buy back into a few copper companies this week as they are starting to look cheap again...this is not a bad website for anyone looking for free charts http://www.livecharts.co.uk/MarketCharts/copper.php

 

post-10244-1424663996_thumb.jpg

 

 

 

 

 

 

 

 

Link to comment
Share on other sites

You've got the big mill breakdown at Olympic Dam and you've got a potentially problematic issue developing with BHP's "redundancy" plan at Escondida. Need to keep an eye out on what the miners union (Sindicato No. 1) at Escondida have to say.

 

Any more unexpected developments with grades or output from any of the big mines and the balance might start changing, at least in the shorter term.

 

Very interesting, that information about copper surfaces and healthcare acquired infections.

 

Eshmun

 

 

 

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...