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Copper, Discussion
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" ?

 
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.



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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?



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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
 
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  
 
early birds
post Posted: Sep 6 2017, 11:01 AM
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Follow the money - BHP is spending $US2.5 billion to expand the life of its Spence mine in Chile, as well as another $US600 million on revitalising Olympic Dam in South Australia. OZ Minerals will spend well over $US1 billion expanding its Prominent Hill mine and developing a new mine at Carrapateena in South Australia.

On top of that, production at Escondida in Chile, the world’s biggest copper mine, is picking up after the strike earlier this year, with the mine’s owners (BHP and Rio) poised to benefit from a $US3.8 billion expansion of the mine.

Glencore is set to bring its Katanga project in the Democratic Republic of Congo back online in next year. In addition, Freeport has just reached an agreement with the government of Indonesia to keep operating its giant Grasberg mine (which will see the Indonesia government take a majority stake in the mine in the near future at an as yet undetermined price).

The common denominator - the rising price of copper and future demand supply scenarios, most of which seem to be bullish, as well the expected surge in production of electric vehicles - either driverless or replacements for existing driven combustion engine vehicles.

In fact copper prices have climbed 24% so far this year,(20% since May alone) while gold has gained 15% and silver, 11%. Aluminium, lead, zinc and nickel rices have all risen sharply since mid year (a bit like what happened in 2016). Iron ore prices are up 25% in the last two months.

Commodities (except for oil and gas) are running.

Even coal has not lost all the Cyclone Debbie generated gains. Coking coal pries have regained the $US200 a tonne this week and steaming coal prices have topped $US96 a tonne - both are a long way from the $US300 a tonne and $US125a tonne they flirted with in April after Debbie. But equally both are well up from the $US160 and $US70 a tonne they then fell back to a month later.

Analysts say the big drivers have been upbeat economic readings from China, the world’s biggest consumer of commodities, as well as rising confidence in the global economy. The US dollar’s slump has helped a lot, too, making dollar-denominated metals cheaper for foreign buyers. And of the lot, copper has been attracting much of the attention. It is likely LME copper prices will top the $US10,000 a tonne mark in the next couple of weeks for the first time in three years.

Add to this the lure of the electric car (it’s not just lithium that is hot). The price of cobalt has soared this year and palladium prices jumped sharply to 16 year highs last week.

In the past week hedge funds increased their net long position in Comex copper — the difference between punts on rising and falling prices — to a record 125,000 contacts.

Copper for delivery in three months on the London Metal Exchange is currently trading $US6,903 a tonne - around $US1,000 above where analysts expect it to trade at the end of the year, according to consensus forecasts compiled by Bloomberg.

Shares in Glencore and Freeport-McMoRan, the world’s biggest publicly listed copper producer, have both risen 30% over the past three months. While some analysts have started to nudge up their estimates, most believe the price has gone too far, too fast and that copper, used extensively in household wiring, will come under pressure.

They say there are still plentiful supplies of copper and that the market has overreacted to China’s partial ban on scrap imports and a flurry of minor supply disruptions.

Some also think the US dollar, which has fallen almost 5% against a basket of currencies since the end of May, could recover on the back of strong economic data. The fall has been despite the rise in tensions around North Korea.

Chinese imports have been weak all year until June when they picked up. Friday’s August trade data will tell us if the small recovery has been sustained.

Investment bank UBS reckons battery-powered vehicles will drive 1.2 million tonnes per annum of incremental copper demand by 2025 — or 5% of forecast consumption for that year — just as supplies start to peak.

“Our forecasts assume the current suite of visible mine supply and projects in development see copper supply peak in the early 2020s. After that time, we see grade decline drive a 1 to 2 per cent fall per annum in mine supply. We conclude many copper projects are likely to be needed to fill this gap,” wrote analysts at UBS in a recent report.
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time for base metal to shine eh?? tongue.gif



 
blacksheep
post Posted: Aug 27 2017, 09:06 PM
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Copper Stockpiles Sink Most in 12 Years Amid Traders' Tug of War
By Mark Burton
August 25, 2017, 11:02 PM GMT+10
QUOTE
Copper inventories on the London Metal Exchange recorded the biggest weekly drop in more than a decade, a positive sign for market bulls who pushed prices to an almost three-year high, even as others urge caution.

Stockpiles have moved in a sawtooth pattern in the past year amid a tug of war between traders with opposing views of how the market will shape up. The latest figures continue the pattern and investors should avoid viewing them as straightforward evidence that a glut in supply is now over, according to Standard Chartered Plc metals analyst Nicholas Snowdon.

https://www.bloomberg.com/news/articles/201...ders-tug-of-war




--------------------
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: Aug 22 2017, 10:25 AM
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In Reply To: blacksheep's post @ Aug 21 2017, 05:10 PM

As expected - Copper price rallies after Grasberg violence
Frik Els | about 6 hours ago
QUOTE
Copper futures trading on the Comex market in New York rallied again on Monday spurred by troubles at the world's second largest copper mine and large-scale speculators positioning themselves for a continued run in prices.


QUOTE
Betting on better copper price
On the copper derivatives market hedge funds built long positions – bets on higher prices in future – to a new record high last week according to the CFTC's weekly Commitment of Traders data. So-called managed money investors' net longs now total over 120,000 lots, the equivalent of 3 billion pounds or 1.36m tonnes worth around $9 billion at today's prices.

On the London Metal Exchange, hedge funds have also increased their bullish bets in recent weeks and according to LME data net longs total over 74,000 lots. LME contracts are for 25 tonnes which translates into more than 1.8m tonnes worth some $12.3 billion. LME data will be updated tomorrow.

http://www.mining.com/copper-price-rallies...sberg-violence/
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
 
 


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