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Copper, Discussion
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/



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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 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/
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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 4 2017, 12:19 PM
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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/



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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 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



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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  
 
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

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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" ?

 
 


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