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Copper, Discussion
blacksheep
post Posted: Jan 4 2018, 10:46 AM
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extract - Goldman has more good news for copper, zinc price
Frik Els | 38 minutes ago

QUOTE
While it's pulled back a bit since New Year, the price of copper ended 2017 near a four-year high of $3.30 a pound ($7,260 per tonne) extending the bull run in the red metal for a second year. Measured from its multi-year lows struck at the beginning of 2016, copper has gained more than 70% in value.


QUOTE
Shipments of copper concentrate to China hit a monthly record of 1.78m tonnes in November and the tally for the year should beat last year's record 17m tonnes.

Refined copper imports are trending down with recently released data showing cargoes are down some 5% over the first 11 months of 2017 to 4.24m tonnes compared to the same period in 2016. Full year imports in 2016 hit a record 4.94m tonnes.

http://www.mining.com/goldman-good-news-copper-zinc-price/



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jan 3 2018, 12:54 PM
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Mining in 2018: Copper price to power on
Frik Els | about 2 hours ago
extract
QUOTE
The upside:
Factories around the world are buzzing – the JP Morgan composite PMI index is at its highest since February 2011 – and concerted global economic growth could hit 4% this year
Warehouse and exchange inventories are under control – Comex is up sharply, but Shanghai is down despite winter refinery shutdowns and at 200,000 tonnes, LME is nowhere near peaks seen during copper's bear years
China’s pollution clampdown and shake-up of state-owned industry open up gaps for producers elsewhere – refined imports have held up surprisingly well and concentrate shipments are at record highs hitting 1.8m tonnes in November
The switch to electric vehicles, the build out of EV infrastructure (Beijing’s promised 4.8m charge points by 2020) and green energy investment lives up to the hype
Long-standing industry issues are not going away: Declining grades, rising costs, dirty concentrates, water and other environmental concerns, stricter regulations, community opposition, agonizingly slow project permitting processes and exploration activity still in the doldrums

On the downside:
Cooler heads prevail and Chile’s biggest ever year of copper mine wage negotiations concludes without major disruptions
The Chinese construction market correction turns into full-blown slump, transport slows and the scrapping of subsidies puts the brakes on EV sales – the biggest sources of demand for the metal in a country that consumes nearly half the global total
Higher prices encourage Chinese miners to ramp up output, domestic secondary supply rises and the purported ban on scrap imports never materialize
Copper from large scale expansions – Oyu Tolgoi and Grasberg going underground spring to mind – and greenfield projects like Udokan, Wafi-Golpu and Quellaveco – reach the market before new wave of demand from EVs does.

http://www.mining.com/mining-2018-copper-p..._medium=twitter



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Dec 30 2017, 12:30 PM
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extract from this article - http://www.mining.com/web/one-sector-want-...-sectors-avoid/
QUOTE
Copper may not seem too sexy to most people, however, make no mistake that copper is a great way to play the looming electric vehicle boom while remaining underpinned by a strong long term supply/demand dynamic (declining mine ore grades and strong global growth):

Attached thumbnail(s)
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Dec 29 2017, 10:49 PM
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Year's Best Commodities Fund Is Betting on 2018 Mining M&A
By Susanne Barton
December 29, 2017, 11:00 AM GMT+11
QUOTE
the outlook for industrial metals such as copper is boosted by expectations of faster global growth and supply disruptions..

https://www.bloomberg.com/news/articles/201...ing-m-a-in-2018



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Dec 28 2017, 06:27 PM
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QUOTE
Copper prices have risen for the 15th consecutive session, marking the industrial metal’s longest winning streak ever, according to FactSet data dating back to 1984.

Copper for December delivery closed up less than 0.1 per cent at $US3.2570 a pound on the Comex division of the New York Mercantile Exchange.

Robust demand from China has propelled copper to its highest level since July 2014, with prices up 30 pe rcent for the year. Recent reports that China’s largest producer, Jiangxi Copper, has been ordered to halt output for a week to curb pollution have fueled recent gains, analysts said...
Dow Jones



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Dec 12 2017, 08:57 AM
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Could impact copper and cobalt

Congo mines say revised code threatens industry's future
QUOTE
DAKAR, Dec 11 (Reuters) – Mining companies in Democratic Republic of Congo said on Monday that proposed changes to the mining code adopted by the lower house of parliament last week would do lasting damage to investment in Africa's top copper producer.

The process of revising the 2002 mining code in Congo has dragged on for over five years but the National Assembly on Friday approved a bill that would increase taxes and royalties and sent it to the upper house Senate for a second vote.

The measure would also increase the state's minimum unpaid share of new mining projects and require that Congolese investors hold at least 10 percent of shares in large-scale mines.


read more - http://www.mining.com/web/congo-mines-say-...dustrys-future/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 

sentifi.com

Share Cafe Sentifi Top themes and market attention on:


blacksheep
post Posted: Nov 28 2017, 01:29 PM
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Copper Bulls Are Upbeat Before the Industry’s China Gathering
Bloomberg News
November 28, 2017, 8:00 AM GMT+11 Updated on November 28, 2017, 12:17 PM GMT+11
Global growth boosts outlook in reversal from gloom of 2015
Miners, smelters will negotiate treatment fees for next year
https://www.bloomberg.com/news/articles/201...a-as-risks-eyed



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 9 2017, 01:26 PM
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QUOTE
(Bloomberg) — The frenzy in the copper market is luring traders to take high-flying bets that prices are headed back toward a record.

Call options wagering on copper climbing above $10,000 a metric ton by December 2018 have started trading during the past two weeks, London Metal Exchange data show. In total, traders have spent about $4.5 million on the contracts.

Copper hasn’t traded at those levels since 2011, the peak of a commodities boom mainly fueled by a roaring economy in China, the biggest user. The bulk of the wagers came last week during the mining industry’s annual gathering in London and suggests traders are becoming increasingly bullish on demand driven by electric cars.

http://www.mining.com/web/copper-traders-m...s-future-metal/
Attached Image





--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 4 2017, 12:19 PM
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Posts: 6,791
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Copper miners to see profit grow further in 2018 — report
Cecilia Jamasmie |
QUOTE
After struggling with falling copper prices since 2011, producers of the red metal are finally recording profits thanks to this year's upswing. And, according to analysts at S&P Global Market Intelligence, the miners’ profit margins are set to grow further in 2018.

Some, such as S&P senior research analyst, Adam Webb, attribute the price recovery to lesser pressure to cut costs at copper operations, despite some upward pressure on mining costs.

“Total cash costs in the copper-mining sector are expected to be approximately 6% higher in 2017 compared with 2016. However, the higher metal prices has provided respite to many copper miners, which had been forced to cut costs and reduce capital expenditures in the wake of falling copper prices since the highs seen in 2011,” Webb said in a report Friday.

Others attribute copper’s outstanding performance to the electric cars ongoing boom. The metal is a key component of the lithium-ion batteries used in the electric vehicles, as well as power inverters and in the charging infrastructure needed to keep them running.


read more - http://www.mining.com/copper-miners-to-see...in-2018-report/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 23 2017, 08:44 PM
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Posts: 6,791
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Hedge fund sues Barclays Bank for £650M over alleged copper market rigging
Andrew Topf | about 8 hours ag

QUOTE
Red Kite, the largest metals hedge fund in the world run by UK Conservative Party donor Michael Farmer, is alleging that Barclays Bank attempted to rig the copper market through insider dealings with the London Metal Exchange.

The former Conservative Party treasurer and peer, known as 'Mr Copper' for his $2 billion fund, "is claiming losses related to alleged manipulation of the copper market for three years up until 2013," according to a story run Friday in The Telegraph. The lawsuit alleges that Barclays allowed staff to share confidential information about its positions with LME traders, which enabled the bank to profit by placing opposing bets, according to court documents.

The bank denies it mishandled confidential information. The LME would not comment except to say that anyone in breach of LME rules would be disciplined, The Telegraph said.

Other banks have of course been called to task over alleged manipulation of metals markets.

In April 2016 Deutsche Bank AG agreed to settle U.S. litigation over allegations it illegally conspired with Bank of Nova Scotia and HSBC Holdings Plc to fix silver prices at the expense of investors. Later that year, Canada's Scotiabank (the Bank of Nova Scotia) was forced to turn over internal emails and other correspondence spanning several years. The move was part of a lawsuit accusing four major banks of conspiring for a decade to fix prices and exploit distortions at the expense of investors in global markets for the precious metal.

Investors allege the banks conspired from 2004 to 2013 to fix prices for gold. They did not estimate the size of the banks' bullion portfolios, but said the gold derivatives market alone was as large as $650 billion during the class action period.

http://www.mining.com/hedge-fund-sues-barc...market-rigging/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: early birds  
 
 


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