Fri, Apr 18, 2014
A A A
Welcome kbr175@gmail.com
RSS
Commodities Briefing 17.Nov 2008

Posted on 17 November 2008 by VRS |  Email |Print

From Reuters: Investment bank Macquarie said on Monday it had cut its 2009 forecasts for base metals, coal and iron ore by up to 60 percent to reflect the deteriorating global economic outlook.

It joins a growing number of research houses that have lowered their outlook for the commodities sector, which had enjoyed a strong performance until the first half of this year before sharply correcting in recent months as the credit crisis has threatened to reduce demand for oil, metals, coal, iron ore and grains….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From WSJ: Instead of heading for the exits as commodity prices plummet, the world’s largest pension funds are being more selective in their investments and more active in managing their portfolios.

Commodity prices already are trading at multimonth lows amid a deteriorating global economic backdrop, and the indexes that many pension-fund investments are benchmarked against are suffering badly….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From Bloomberg: Oil fell for a second day in New York on signs the global slowdown is limiting demand in China and Japan, the world’s second- and third-largest crude users.

Japan entered the first recession since 2001 as its gross domestic product fell an annualized 0.1 percent in the three months ended Sept. 30 after shrinking 3.7 percent in the previous period. China National Petroleum Corp., the country’s biggest oil producer, said demand has contracted “sharply” since September because of the global credit crisis….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From Ce.cn: China’s power consumption stood at 269.85 billion kilowatt hours (kwh) last month, down 3.7 percent compared with October last year, the first year-on-year monthly decrease since 1999.

According to the China Electricity Council (CEC), electricity consumption was 2.9 trillion kwh in the first 10 months, up 8.27 percent from the same period last year, compared with 9.67 percent in the first nine months. Power supply also dropped last month with total electricity generated at 264.5 billion kwh, down 4 percent from October last year….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From Business-standard.com: The prices of most commodities are likely to increase in the long run and for different reasons. Gold may climb above $1,000 an ounce in 2011 as global mine output drops, mining costs rise and demand increases, Morgan Stanley said.

“Mining production actually peaked in 2001 and has since been declining,” the bank’s commodity analyst Hussein Allidina said in an interview with Bloomberg television in Singapore. “When I look at the demand side, as income growth accelerates, the consumption of gold for jewellery purposes increases.”…. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From Sciencealert.com.au: The latest figures on Australia’s mineral reserves reveal that the mining sector continues to remain the most important export earning sector of the Australian economy, and holds the potential to do so for many decades.

Geoscience Australia’s annual review of the commodities industry, Australia’s Identified Mineral Resources (AIMR) 2008, shows that Australia has the world’s largest resources of mineral sands (rutile and zircon), nickel, uranium, zinc, lead and brown coal….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From Reuters: OPEC may have to wait until December to take action to reach a preferred oil price range of $70-$90 a barrel because the effect of its latest cuts is not yet clear, the group’s president said on Sunday.

Chakib Khelil told a press conference that he saw a meeting of OPEC ministers in Cairo later in November as more of a brainstorming session that might formulate recommendations for action at OPEC’s gathering at Oran, Algeria on Dec. 17….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From Seekingalpha.com: Four years ago this week, a revolutionary ETF was launched that forever changed trading dynamics within the global gold market. Known today as the SPDR Gold Shares, GLD has been wildly successful by any measure.

GLD’s rise to fame has not been easy. While a few contrarians loved the idea of a gold ETF as a way to broaden investor participation in this gold bull, many investors were very skeptical. Some were downright hostile….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From Tradearabia.com: As if the global meltdown and soaring food prices are not enough, now brace up for food shortage in the coming two years.

Even as the world is struggling to fight global market meltdown with companies sacking employees and Industries scaling down production, the world will also have to tackle food shortage and soaring prices in the coming days, said a Commodity Online report….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From Canadianpress: A little more than four months ago, there appeared to be no end in sight to oil’s spectacular run, with some calling for prices to hit US$200 a barrel. But crude has been on a steep, virtually uninterrupted downward slide since hitting a record of US$147 on July 11.

Crude for December delivery closed at US$57.04 per barrel Friday on the New York Mercantile Exchange - a more than60 per cent decline from its all-time high….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From Marketoracle.co.uk: Gold went sideways while silver went lower. But the story of the week was the action in the stocks. The highest “quality” stocks moved lower by about 7% while the average stock declined by over 11%.

Silver stocks did even worse with average declines over the 14% neighborhood. Are we ready for a bottom or is this just a continuation of the bear? We are still heading towards that $480 projection with $630 along the way….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From FT Adviser: In this brave new world of transparency and buck passing, multi-managers have come under scrutiny for using these exotic and little understood funds. IFAs choose multi-manager funds to cede responsibility for fund and manager selection to the experts.

If multi-managers are turning to passive funds such as ETFs, is this not blatantly shirking the responsibility for which they handsomely charge?…. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From Moneycontrol.com: It isn t often that a simple switch of letters from USA to UAE can lead to a loss of over Rs 6 crore. But commodity traders in India are only too aware of how the global credit crunch is changing the rules of the game.

Suppliers and buyers are using any opportunity to renegotiate their contractual obligations, and in some cases, wriggle out of them entirely. Take the instance of Surya Alloys, a Kolkata-based company that was due to receive a 3,000-tonne shipment of ferrous scrap from Dubai-based Goldline Worldwide….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From Chicagotribune.com: Three critical issues face the Obama administration in 2009: first, the collapsing U.S. economy; second, our national security; and, finally, our escalating and costly dependence on foreign oil.

Addressing our perilous dependence on foreign oil is a sure way to solve the economic and security threats. We cannot be complacent and buy into the notion that collapsing oil and gasoline prices have solved the problem. They have added to it….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From Resource Investor: A lack of physical bullion supply at the same time of extremely strong demand for popular small bullion items coupled with artificially low futures dominated spot prices for gold and silver resulted in extraordinarily high premiums for virtually all bullion products in October.

The very high premiums continue and availability remains tight. All over North America coin and bullion dealers face a frustrating and difficult challenge. They have customers who want to buy gold and silver bullion items, lots of customers right now, but they are finding it very difficult to obtain the popular bullion items their customers really want….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From Theaustralian.news.com.au: Investment in Australia’s renewable energy sector has failed to take off, totalling just $3 billion in the eight years since the scheme was introduced.

Modelling by the Energy Supply Association of Australia estimates that a $23 billion investment in renewable energy will be required to achieve the federal Government’s goal of doubling the market share of renewable energy from 10 per cent to 20 per cent by 2020….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From Oredigger.net: The world’s mineral and energy resource production capacities are being strained to supply these exponentially growing economies. The price of nearly every natural resource commodity has dramatically escalated since 2003, although the last month has seen volatility in pricing related to other macroeconomic activity.

Not only have prices of certain commodities increased, but the competition to obtain these natural resources has become intense. Colorado is already suffering from a shortage of several mineral commodities, including cement, petroleum, and precious metals….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From Seekingalpha.com: Rydex launched a ninth CurrencyShares ETF on the NYSE Arca platform Thursday, giving investors the first Russian ruble exchange traded fund. The fund, which trades under the ticker symbol XRU, offers U.S. investors a long ruble/dollar pair trade.

It holds 1,000 rubles per share and closed 3 cents above its NAV of $36.36. The fund charges 0.40% in expenses, in-line with other CurrencyShares funds, and slightly cheaper than other emerging market currency funds….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From Tradearabia.com: The Dubai Multi Commodities Centre (DMCC) has launched a new premises and trading floor for the Dubai Diamond Exchange (DDE).

The new facilities in Almas Tower in the Jumeirah Lakes Towers includes a 1,500 sqm trading floor featuring public trading facilities, private viewing rooms and sophisticated technical instruments to inspect diamonds, fully automated vaulting facilities and digital market information, according to the Gulf News report….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From Business-standard.com: In what can be described as a positive aspect of the global meltdown, following the credit crunch the world over, prices of all metals across the board have seen a dip due to a steep fall in demand. And so did it happen in case of diamonds — one of the costly desires of women — as well.

With the economic meltdown dimming hopes of investors in equities, commodities as well as precious metals, diamond remained a good investment option, as its prices fell by nearly 15 per cent in the last three days….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From FT: Investors who placed summer bets that oil prices would fall below $100 a barrel are set to make huge profits on Monday, with some speculators reaping a return of more than 2,000 per cent in less than six months.

The expiry of the December put options – derivatives that give holders the right to sell at a predetermined price and date – means some investors will be selling oil at prices as high as $100-$120 a barrel, well above Friday’s close of $57.04 a barrel….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From Reuters: London copper futures fell 3.1 percent on Monday,reversing Friday’s 5 percent gains, chased lower by Shanghai as commodity markets succumbed to profit taking in light of the strengthening dollar.

London Metal Exchange copper for delivery in three months fell $120 to to $3,700 a tonne at 0101 GMT, while Shanghai’s most active copper contract SCFc3 dropped 2
percent to 29,400 yuan ($4,309)….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From FT Adviser: ETF Securities is to launch a new platform of equity ETFs on the London Stock Exchange, with zero per cent fees but with additional commodity exposure.

On offer are 11 benchmarks with commodity themes and two other portfolios, which are based on the large-cap US Russell 1000 and the small-cap US Russell 2000 indices….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From FT Adviser: The manager of the £40.7m multi-asset CF Miton Global Portfolio has said emerging markets should prove resilient in the face of the commodities downturn and long-term opportunities remain sound.

Sam Liddle said commodity inflation had eased as the banking crisis intensified. In addition to the oil price more than halving, wheat prices had also halved and rice prices were down a third, he said….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From Zawya.com: Steel prices in Abu Dhabi plunged by up to 31 per cent in October for the third month running as construction appears to be the latest victim of the fallout from the global financial crisis, official data showed yesterday.

Cement prices also fell by about eight per cent for which the report cited the repercussions of the global financial crisis, sliding oil prices, accumulating steel surpluses in the local market and other factors….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From Indiatimes.com: An initiative to fight deforestation in developing economies by tapping emissions trading markets will commence in full swing shortly, involving a World Bank-managed facility financed in part by Japan.

The Forest Carbon Partnership Facility to finance projects to curb slash-and-burn farming and other forms of forest degradation will begin soon in Vietnam, Madagascar and 23 other countries formally selected at the facility’s first meeting in the United States in late October, the sources said….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From Mineweb.com: Wherever one turned at RBCCM gold meeting in London there was little optimism in the gold sector - at least in the short and medium term. It depended on who you listened to at RBCCM gold meeting in London as to views on where gold is going in the short and medium terms.

Just about everyone’s longer term view was positive but the next six to nine months generates a variety of opinions, most of which are now pretty firmly negative. While virtually no-one seems to be expecting any sharp falls in the gold price, they are not looking for major increases in the near future….. Full Article: Source

Posted on 17 November 2008 by VRS |  Email |Print

From Weeklytimesnow.com.au: The mixed fortunes of Australian farmers were evident this month as global prices and domestic production fluctuated across commodities and regions.

The overall Westpac-NFF Commodity Index fell only 1.3 per cent during October, but it masked volatile price movements – from falls of 9.2 per cent to gains of 7.6 per cent….. Full Article: Source

See more articles in the archive

banner
banner
April 2014
S M T W T F S
« Mar    
 12345
6789101112
13141516171819
20212223242526
27282930