Tue, Jul 22, 2014
A A A
Welcome kbr175@gmail.com
RSS
Commodities Briefing 23.Feb 2009

Posted on 23 February 2009 by VRS |  Email |Print

From Cattlenetwork.com: The reversal of Russia’s fortunes is nothing short of a Chekhov drama. A seven-year economic boom fueled by cheap credit and soaring commodity prices has come to an abrupt end, plunging the country into the worst financial crisis since its 1998 debt default.

Russia’s economy is expected to contract by at least 2% in 2009 after growing at an average rate of 7% in recent years….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Seekingalpha.com: China Development Bank, one of China’s largest state-owned enterprises, has agreed to lend $10 billion to Brazil’s Petrobras (PBR) in exchange for a long-term supply of oil - the latest illustration of how Beijing is using the global downturn to further its domestic agenda.

Money Morning first reported in January that China was building stakes in some of the world’s largest natural-resource companies, which have been made vulnerable by depressed commodities prices, tumbling profits and falling stock prices….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Hardassetsinvestor.com: At certain times, bullion, represented by the SPDR Gold Shares Trust fares better than miners proxied by the Market Vectors Gold Miners ETF; at other times, the reverse is true. The GLD/GDX ratio reflects the relative strength of gold over mining shares.

There will be times, too, when a broader-based portfolio of commodities will outperform a universe of commodity stocks. I say will because we’re still in the very early stages of tracking an analogue to the GLD/GDX ratio. The Market Vectors RVE Hard Asset Producers ETF , a portfolio of nearly 300 commodity producers or processors, when compared to the GreenHaven Continuous Commodity Index ETF, meters the vigor of hard asset equity investment….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From WSJ: With stock markets offering little positive news, it might be a good time to look at other parts of your investment portfolio. One area often overlooked is commodities. These “real” things — gold, oil, corn, pork bellies — can play a role in your long-term, diversified portfolio allocation. And with commodity prices mostly lower, now is a good time to think about this sector.

Commodities enjoyed a torrid run through much of the 2000s. Rising global demand for metals, food and energy helped spark sharp gains for commodities. But in the past few months, the picture has become muddier. Oil prices have slumped from $147 a barrel to less than $40 a barrel, and other commodity prices have also fallen….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Independent: With exchange traded funds, you can leave the underperforming mainstream of shares and move into more exotic areas. It can be frustrating being a small private investor, hunting for decent returns amid the rubble of equity prices and savings rates.

Any hot share tips are often kept to a tight circle of City insiders, new stock issues are sold exclusively to the big institutions and access to investments in some of the world’s fastest-growing economies are out of reach. As for commodities, it’s not practical for the man on the street to go and buy oil, coffee or wheat….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Guardian: Iraq must curb its dependence on oil revenue and promote investment in agriculture and industry or it will face a severe economic crisis if oil prices remain low, the planning minister said on Sunday.

Private investment, both from Iraqis at home or abroad and from foreigners, is becoming increasingly crucial to ensuring that the security gains of the past year are not undermined by economic collapse, Minister Ali Baban told Reuters….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Reuters: The head of Iran’s state oil firm expressed hope that crude prices would rise, citing predictions of increased consumption in coming months, the official IRNA news agency reported on Sunday.

Seifollah Jashnsaz, managing director of the National Iranian Oil Company, also said Iran had cut output by 550,000 barrels per day (bpd), in line with the drive by the Organization of the Petroleum Exporting Countries (OPEC) in recent months to reduce production in a bid to halt tumbling prices….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Seekingalpha.com: Gold has skyrocketed and oil has dropped like a rock in the last few months, in case you were in a closet. Here’s why I am long oil (USO) and am getting longer on dips:

1. Oil has come down about almost 80% from its high. (I understand that there was overbuying because JP Morgan (JPM) was highly leveraged and was technically manipulating the market, but it worked for a reason.) 2. Oil is a commodity just like Gold and Silver, making it an international currency. 3. The Federal Reserve Bank is leveraged 75:1….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Canadian Press: Vietnam will open its first oil refinery on Sunday, a $3-billion project that will meet one-third of the country’s petroleum needs and ease dependence on imported fuel.

The opening of the Dung Quat refinery, which took four years to build, is a milestone for Vietnam, an oil-exporting country that, until now, did not have the capacity to process its own fuel….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Brisbanetimes.com.au: With the heady days of the uranium boom of 2007 long gone, the market is not exactly awash with talk about yellowcake. There is more day-to-day interest in metals that are performing very well (gold) or those that are doing so poorly that miners are making losses (base metals).

But since the collapse of Lehman Brothers in September, uranium has been one of the better-performing commodities in terms of price….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Guardian: The changing of the world’s climate, primarily caused by the rich world’s consumption of fossil fuels, is already impacting negatively on many impoverished communities and indigenous peoples across the global south.

Yet it is countries in the global north, with 18% of the world’s population, who are historically responsible for 70% of carbon dioxide emissions from the burning of fossil fuels….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Guardian: A global protest against UK plans to build new coal power plants is being launched today by campaigners from more than 40 developing countries accusing the government of being a “climate criminal”.

They have written an open letter to energy and climate change secretary Ed Miliband that follows repeated warnings from UK groups that the decisions to approve new coal power plants and the expansion of Heathrow airport would damage the nation’s position in international negotiations when it tries to persuade other countries to cut global-warming emissions….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Vancouversun.com: Australia wants to join Canada and the United States in a renewed effort to combat climate change, and the country’s new high commissioner to Ottawa intends to press this case to the federal government.

The Australian pressure comes in the wake of Prime Minister Stephen Harper’s green stance during his meeting with new U.S. President Barack Obama….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Bloomberg: Australian farm revenue may decline A$2.4 billion ($1.5 billion) a year by 2020 under the government’s carbon pollution-reduction system, the Australian reported.

Losses to the farming sector would balloon to A$10.9 billion a year by 2030, driven by declines of more than 20 percent in the beef and wool industries, the newspaper said, citing a report by the Canberra-based Centre for International Economics that was prepared for the Australian Farm Institute and Australian Wool Innovation and Dairy Australia….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Nzherald.co.nz: Environment Minister Nick Smith wants officials to recalculate New Zealand’s greenhouse gas emissions because they are likely to grow more slowly thanks to the global economic meltdown.

Dr Smith said the Government would not set short-term targets for reducing emissions until he had an accurate picture of what future emissions would be….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Commodities-now.com: Brazil has proposed a €100 billion fund that would encourage poor countries to cap their emissions. Evironment Minister Carlos Minc said the fund would help unblock the impasse between developed and developing countries over action beyond 2012 to combat global warming.

The initiative, dubbed the “descending carbon spiral,” was outlined during a ministerial discussion on climate change organised by the Danish government on the sidelines of a UN Environment Programme meeting in Nairobi….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From FT: Gold surged above the key $1,000 a troy ounce mark on Friday, helped by record investor inflows into exchange traded funds.

For other commodities, elevated levels of risk aversion and concerns about the outlook for the global economy ensured downward pressure….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Thepeninsulaqatar.com: The unprecedented lack of confidence in the global market place saw investors fleeing into the safety of bonds, the US dollar and Gold.

Among some of the themes adding to the negative sentiment was Japan announcing the biggest economic contraction for 35 years and fears of banking upheavals in Eastern Europe, similar to the Asian crisis of 1998, and the potential fallout on Western Europe….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Business24-7.ae: A correction in gold prices is likely as the prices currently look “unnatural”, senior commodities analysts associated with Dubai Gold and Commodities Exchange (DGCX) said.

Analysts predict a range of $970 an ounce to $1,030 an ounce in gold prices in the near future….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Mineweb.com: As this article was commenced, the gold price was at $997 and seemingly inexorably headed towards breaching the US$1,000 level once again. Indeed by the time you read this it may well already have done so. April futures had already marginally gone through the $1,000 level.

The big question is, assuming spot gold does push through $1,000, will this be third time lucky for the gold bugs? Gold has breached $1,000 twice beforehand and on each occasion its climb into the four figure level was shortlived….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Globaliamagazine.com: Sustained investor interest in gold over the course of 2008 against a backdrop of the worst year on record for global stock markets and many other asset classes, helped push dollar demand for the safe haven asset to $102bn, a 29% increase on year earlier levels.

According to World Gold Council’s (”WGC”) Gold Demand Trends, identifiable gold demand in tonnage terms rose 4% on previous year levels to 3,659 tonnes….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Times of India: Everyone’s talking about gold and its glitter but check the returns silver has delivered this year. After falling around 10% in 2008, silver has outperformed its much hallowed yellow counterpart.

Analysts say silver has the potential to outperform gold in future too and investors should keep their eyes open while parking their money in the precious metals space….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Financialpost.com: Investors have lost a lot of money in mining companies the past few months, but they still seem interested in finding the next big winner.

About 300 investors are expected for BMO Capital Markets’ annual global mining conference, which began yesterday in Florida and continues through Wednesday….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Investmentnews.com: Big-name mutual fund companies leery of jumping into exchange traded funds have finally received the signal that they need to make a major push into that arena. On Jan. 30, the investment management arm of The Charles Schwab Corp. filed with the Securities and Exchange Commission for exemptive relief to create its first ETF.

“I think this is going to force … a lot of the big mutual fund firms to move forward,” said James Pacetti, president of ETF International Associates Inc., an industry consulting firm in New York….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Morningstar.com: Deutsche Bank AG (DB) said Monday that it is launching four exchange-traded funds, or ETFs, on the Singapore Exchange.

The funds include the S&P 500 Short ETF, which is based on an index that will rise when the S&P 500 falls, the bank said in a joint statement with the SGX. The other ETFs are MSCI Taiwan TRN Index ETF, FTSE/Xinhua China 25 ETF and the S&P CNX Nifty ETF….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Asianinvestor.net: Mutual funds registered for sale in Malaysia posted an average loss of 0.16% in January, extending their average decline of 22.28% in 2008, according to Thomson Reuters Lipper data.

In terms of average performance by asset type, commodities funds posted an average gain of 4.61% last month, a turnaround from their 33.30% average decline in 2008….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Radionetherlands.nl: The ten members of the Association of Southeast Asian Nations (ASEAN), together with Japan, China and South Korea, agree that a multi-billion euro credit fund should be increased from 60 billion to almost 95 billion euros.

The fund is intended to prop up the currencies of any of the 13 countries should they come under pressure. Most of the money will be provided by Japan, China and South Korea….. Full Article: Source

Posted on 23 February 2009 by VRS |  Email |Print

From Etaiwannews.com: Shipping costs have more than doubled this year, so it may be time to buy kroner, Aussies and loonies.The 147 percent jump in ocean-transport prices is evidence that China’s US$580 billion stimulus plan will lift raw materials, said Ihab Salib, who oversees US$3 billion at Federated Investments Inc. in Pittsburgh.

That would benefit countries exporting them, so Salib is “actively trading” Norway’s krone and Australian and Canadian dollars, nicknamed Aussies and loonies….. Full Article: Source

See more articles in the archive

July 2014
S M T W T F S
« Jun    
 12345
6789101112
13141516171819
20212223242526
2728293031