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Copper, Discussion
blacksheep
post Posted: Oct 23 2017, 08:44 PM
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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/



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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

Said 'Thanks' for this post: early birds  
 
blacksheep
post Posted: Oct 17 2017, 12:46 PM
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Car manufacturers are electrifying copper, “The metal of the future”
Frank Holmes - U.S. Global Investors | about 8 hours ago
QUOTE
As many of you know, copper is often seen as an indicator of economic health, historically falling when overall manufacturing and construction is in contraction mode, rising in times of expansion.

That appears to be the case today. Currently trading above $3 a pound, “Doctor Copper” is up close to 24 percent year-to-date and far outperforming its five-year average from 2012 to 2016

Several factors are driving the price of the red metal right now. Manufacturing activity, as measured by the purchasing manager’s index (PMI), is expanding at a pace we haven’t seen in years in the U.S., eurozone and China. The U.S. expanded for the 100th straight month in September, climbing to a 13-year high of 60.8.

Speculators are also buying in response to word of copper shortages in China, despite September imports of the metal rising to its highest level since March. The world’s second-largest economy took in 1.47 million metric tons of copper ore and concentrates last month, an amount that’s 6 percent higher than the same month in 2016.

Why Copper Is the “Metal of the Future”
Why are we seeing so much copper entering China? One reason could be battery electric vehicles (BEVs), which require three to four times as much copper as traditional fossil fuel-powered vehicles.

China is already the world’s largest and most profitable market for BEVs, and Beijing is now reportedly working on plans to curb and eventually ban the sale of fossil fuel-powered vehicles, according to the Financial Times. This would place the Asian giant in league with a number of other powerful countries similarly crafting bans on internal combustion engines within the next 25 years, including Germany, France, Norway, the United Kingdom and India.

Because of the sheer size of the Chinese market, this move is sure to delight copper bulls and investors in any metal that’s set to benefit from higher BEV production. That includes cobalt, lithium and nickel.

According to Bloomberg New Energy Finance, BEVs will account for 54 percent of all new car sales by 2040. That year, China, Europe and the U.S. are expected to make up 60 percent of the global BEV fleet.

This could have a huge effect on copper prices over the next 10 years and more. With fewer and fewer large deposits being discovered, demand should accelerate from 185,000 metric tons today to an estimated 1.74 million tonnes in 2027, according to the International Copper Association

These are among the reasons why Arnoud Balhuizen, chief commercial officer of Australian mining giant BHP Billiton, called copper “the metal of the future” in an interview with Reuters last month.

“2017 is the revolution year [for electric vehicles], and copper is the metal of the future,” Balhuizen said, adding that the market is grossly underestimating the red metal’s potential as BEV adoption surges around the world
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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: Oct 10 2017, 10:44 AM
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Congo Halts Sicomines Copper Exports, Orders Local Refining
QUOTE
The Democratic Republic of Congo ordered Sinohydro Corp. and China Railway Construction Corp.’s local mining venture to stop exporting unprocessed copper and cobalt and refine all its metals within the country.

Sicomines must ship “only high-value products” as the government looks to “ensure the prompt repayment” of the country’s continuing $6 billion minerals-for-infrastructure deal with China, Mines Minister Martin Kabwelulu said Oct. 2 in response to questions sent by text message. Sicomines’ profit is paying off the loans China provides to Congo, which will be reimbursed quicker if the mine exports higher value, refined metals.

The $3.2 billion mining project operated by Sicomines accounted for about a quarter of copper-concentrate and 5 percent of copper-cathode exports last year from Congo, Africa’s biggest producer of the metal and the world’s largest source of cobalt. Sicomines exported 115,000 metric tons of copper concentrate and 20,000 tons of copper cathodes in the first half of 2017, according to the Provincial Division of Mines in South Katanga, where the mine is situated.

Sinohydro Corp. and China Railway Construction, both based in Beijing, own 68 percent of Sicomines. The project is a key part of a minerals-for-infrastructure deal struck between the two countries in 2007, under which the Chinese companies build facilities including roads and hospitals that are financed by Chinese banks in return for metals like copper and cobalt, which is used to make rechargeable batteries.

https://www.bloomberg.com/news/articles/201...tform=hootsuite



--------------------
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  
 
wolverine
post Posted: Oct 2 2017, 07:06 PM
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In Reply To: lgrif's post @ Oct 2 2017, 04:50 PM

Market cap is ticking up, so the volumes are hardly ground shaking but still not too bad for them



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TOO MANY CHIEFS

NOT ENOUGH INDIANS
 
lgrif
post Posted: Oct 2 2017, 04:50 PM
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In Reply To: wolverine's post @ Oct 2 2017, 03:33 PM

Volume low, but 25% spike is "a bit" ?

 
wolverine
post Posted: Oct 2 2017, 03:33 PM
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There still isn't a board XAM but they have recently comfortably raised further cash to continue their exploration in Mongolia.

A bit of a spike and volume in price today to go with it.



--------------------
TOO MANY CHIEFS

NOT ENOUGH INDIANS
 


blacksheep
post Posted: Sep 26 2017, 10:37 PM
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In Reply To: early birds's post @ Sep 6 2017, 11:01 AM

BHP, world's largest miner, says 2017 is 'tipping point' for electric cars
QUOTE
SINGAPORE (Reuters) - This year looks set to be the “tipping point” for electric cars, Arnoud Balhuizen, chief commercial officer at global miner BHP (BLT.L) said on Tuesday, with the impact for raw materials producers to be felt first in the metals market, and only later in oil.

“In September 2016 we published a blog and we set the question - could 2017 be the year of the electric vehicle revolution?” said Balhuizen, a company veteran who runs BHP’s commercial strategy, procurement and marketing from Singapore.

“The answer is yes...2017 is the revolution year we have been speaking about. And copper is the metal of the future.”


http://www.reuters.com/article/us-bhp-stra...s-idUSKCN1C10HO?



--------------------
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
 
praveen
post Posted: Sep 22 2017, 09:03 PM
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Pattern refreshed for-Sep/22/2017.CMP-423 The Copper is in the long-medium-term bull stage.Currently Copper is in a solid downtrend and the pattern is bolstered with great volume The open intrigue is not expanding with an incline. Taking note of point is offering at bringing down levels appears to be diminishing. The oscillator is demonstrating SELL motion For here and now Copper is in SELL position.Positionally Support for the Copper is 415-401-392-.Resistance for the Copper is 428-432-434-



As of now Copper is in HOLD LONG position In here and now Copper is in solid up slant so hold with stop at 421 The oscillator is demonstrating BUY flag

Intraday Trend-Buy is exhorted over 427.7 with a stop at 419.8 Below 417.8 run for offer with stop at 425.7

Intraday Resistance of COPPER are 426.9 : 430.3 : 437.4 : 443.6 : 449.7 : 454.2 : 458.6

Intraday Support of COPPER are 418.6: 415.2: 408.3: 402.4: 396.6: 392.5: 388.4


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Said 'Thanks' for this post: early birds  
 
blacksheep
post Posted: Sep 19 2017, 11:39 AM
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Aussie consortium to spend $12m in research to boost copper production
Cecilia Jamasmie | about 9 hours ago

QUOTE
Australian academics from the University of Adelaide have been selected to lead a A$14.6 million (about US$12m) research consortium focused on developing new technologies to boost copper production in the state of South Australia.

The consortium, which includes industry actors and government bodies such BHP, OZ Minerals, Boart Longyear, Sandvick, the state’s Chamber of Mines and METS Ignited Industry Growth Centre, is part of a state government strategy that aims to triple South Australia’s copper production to one-million tonnes a year by 2030.

In 2014-2015, copper and copper concentrates exports from South Australia were valued at over A$2 billion making it South Australia’s single largest export item in value.
The University of Adelaide will invest A$4.46-million in the consortium, with the remainder of the A$14.6-million funding coming from the mining and research partners.

“There is a large untapped copper resource in the state with total value of known copper resource (with gold as a by-product) at over $800 billion,” says Professor Stephen Grano, Director of the University of Adelaide’s Institute for Mineral and Energy Resources, who will be director of the new Consortium.

Together with the potential to increase the rate of commercial exploitation of those copper resources, there are also significant capital and operating cost hurdles to overcome, due in large part to the geological complexity of the area where the untapped deposits are located, Grano noted.

South Australian copper ores are very complex with many different minerals that are finely interwoven. Processing requires high levels of energy, water and capital.

“The objectives of the Consortium are to address these challenges and opportunities in more sustainable mining, minimising environmental impacts, and to commercialise technological outcomes for global market opportunity,” says Professor Julie Owens, Deputy Vice-Chancellor (Research) at the University of Adelaide.

The timing of the initiative seems just right as worldwide copper demand is expected to surge 6,100% by 2040 as electric vehicle sales increase in coming years, Bloomberg Intelligence analyst Eily Ong said last week.

It also comes of the heels of a statement from China — the world’s largest car market — indicating the government is planning to ban combustion engine cars.

Electric vehicles use a substantial amount of copper in their batteries and in the windings and copper rotors used in electric motors. A single car can have up to six kilometers of copper wiring, according to a June report by consultancy IDTechEx, commissioned by the International Copper Association (ICA).

Copper prices are expected to spike in the medium term as a result of that new demand, but also due to lower quality grades and the absence of big copper projects in the pipelines of major mining companies.

http://www.mining.com/aussie-consortium-sp...per-production/



--------------------
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  
 
blacksheep
post Posted: Sep 13 2017, 01:12 PM
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Perhaps we are going to see a glut of copper in the future- everyone is jumping on board the copper train smile.gif

Friedland confident Congo copper project will be bigger than Grasberg
Frik Els | about 2 hours ago

QUOTE
Friedland said he’s looking forward to giving shareholders a “substantial” resource expansion in time for Christmas:

“Kamoa-Kakula already is independently ranked as the fifth-largest copper deposit in the world. Seeing the unprecedented rate of growth of high-grade copper resources since drilling began at Kakula in May 2016, I am confident now that soon it will be among the top three.

“The remarkable consistency of the ultra-high-grade copper mineralization at the Kakula Discovery is unlike anything geologists have ever seen in the DRC’s Copperbelt. The discovery remains open in virtually all directions, so the real question is, how much bigger and better is Kakula going to get?” Mr. Friedland added.

http://www.mining.com/friedland-confident-...igger-grasberg/



--------------------
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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