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Commodities Briefing 22.Dec 2009

Posted on 22 December 2009 by VRS |  Email |Print

From Commodityonline.com: Where is the global economy heading? Legendary investor Jim Rogers and global investment guru Marc Faber have interesting outlooks on how the financial crisis sweeping across the world is a tip of the ice berg.

Rogers and Faber argue that the US dollar is on a path to death and gold prices will continue to rise on the declining dollar value………………………………….Full Article: Source

Posted on 22 December 2009 by VRS |  Email |Print

From Reuters: British fund managers continued to build positions in alternative investments as commodities remain in favour though some have started to express concerns about overvaluation, according to a Reuters poll.

Allocations to alternatives increased to 11.8 percent in December, from 11.1 percent in November according to the Reuters poll on a like-for-like basis comparing the same respondents over the two months………………………………….Full Article: Source

Posted on 22 December 2009 by VRS |  Email |Print

From CP: Oil and gas led a surge in commodity prices in November and the trend is likely to continue into 2010 as the appetite of the Chinese “juggernaut” continues to increase for metals, according to Scotiabank’s monthly commodity price index report.

The bank’s index, which measures price trends in 32 major exports, grew 5.3 per cent over October………………………………….Full Article: Source

Posted on 22 December 2009 by VRS |  Email |Print

From Marketwatch.com: The outlook for Japanese trading firms has brightened against a backdrop of higher price forecasts for commodities — and Mitsubishi Corp. and Mitsui & Co. are likely to benefit the most, according to analysts.

“We believe that consensus forecasts for the trading houses do not reflect the buoyant outlook for commodity prices,” analysts at Macquarie said in a recent note to clients………………………………….Full Article: Source

Posted on 22 December 2009 by VRS |  Email |Print

From Marketoracle.co.uk: Quick answer…there is no easy way to make money in commodity trading. Sorry about that. No get rich quick schemes. The fact is once in a while you hear of someone who made a killing in the commodity markets ( Remember Hillary Clinton and her $100k Cattle Trade)..but it is not reality.
What is reality that even when you do make money in the commodity markets it is a challenge to keep it. A select few do keep it and even compound their money. These are commodity trading advisors who have a plan and follow it with absolute discipline………………………………….Full Article: Source

Posted on 22 December 2009 by VRS |  Email |Print

From Theglobeandmail.com: Naming the big winners in commodities in 2009 is easy: Base metals — lead, copper, zinc, nickel — and crude oil. Thanks, China! Now, name your best bets for the next couple of years.

You should be looking at coking coal, oil, and potash and nitrogen fertilizers, according to Patricia Mohr, commodity market specialist at Scotiabank………………………………….Full Article: Source

Posted on 22 December 2009 by VRS |  Email |Print

From Mineweb.com: There is no shortage of advice for the gold investor available on the internet and much of it is wildly contradictory. There are those predicting a crash as the price has come off the boil, while others predict heady heights ahead.
You pay your money and you take your choice the expression used to be - but now most of the advice comes thrust at you for free - although in many cases it comes with exhortations to buy some newsletter or investment service or other………………………………….Full Article: Source

Posted on 22 December 2009 by VRS |  Email |Print

From Commodityonline.com: The recent fall in Gold Prices could result in an upturn in the number of people investing in the yellow metal as they look to capitalize on cost reduction.

That is the opinion of Stephen Platt, a commodity analyst at Archer Financial Services Inc. in Chicago, who made his comments following futures dropping below $1,100 on Friday for the first time since November 10th………………………………….Full Article: Source

Posted on 22 December 2009 by VRS |  Email |Print

From Resourceinvestor.com: The weekend brought our few additional gold buyers overseas, as Friday’s better than 1% gain in gold prices dampened the bargain-hunting spirits. At the start of the new week, the best thing that could be said about the metals, the dollar, and other markets was that steadiness was manifest.
Whether or not such calm is of the typical variety that one sees prior to a little storm of volatility (exacerbated by thinness in participation), remains to be seen………………………………….Full Article: Source

Posted on 22 December 2009 by VRS |  Email |Print

From Commodityonline.com: Finally, it is almost certain that India will lose its numero uno status as world’s biggest gold consumer to China.

Since many years India has been ruling the world as the top consumer of the yellow metal but this year and increased surge in demand from China and a fall in gold jewellery sales in India due to high prices have caused India losing the top slot………………………………….Full Article: Source

Posted on 22 December 2009 by VRS |  Email |Print

From Amm.com: Increases in crude steel production in the United States and China led a worldwide surge that saw total global steel output increase to 107.5 million tonnes in November, up 24.2 percent from slightly more than 86 million tonnes in the same month last year, according to World Steel Association (WorldSteel) statistics.

The increase by the 66 countries that report figures to WorldSteel reflected an overall rise in steel demand due in part to improved market conditions in emerging economies………………………………….Full Article: Source

Posted on 22 December 2009 by VRS |  Email |Print

From Bloomberg: Copper production outpaced consumption by 3,000 metric tons in September, the International Copper Study Group said.

The deficit for the first nine months of the year was 52,000 tons, the Lisbon-based group said today in an e-mailed statement………………………………….Full Article: Source

Posted on 22 December 2009 by VRS |  Email |Print

From Hardassetsinvestor.com: Although it had already been used to coat mirrors (equal in quality to those made with a coating of silver), indium really only came into its element during World War II, when it was used to coat bearings in fighter aircraft.
But in the last 20-30 years, commercial use of indium has taken off, particularly with the development of flat-panel displays, semiconductors and photovoltaic cells………………………………….Full Article: Source

Posted on 22 December 2009 by VRS |  Email |Print

From Commodityonline.com: Mitsui Mining & Smelting Company has resumed its Pallca mine in Peru as rising demand boosts metal prices.

The Tokyo-based company said in a press note that the firm has resumed operation at Pallca mine from October. Mine output at Pallca which has annual capacity of 15,000 tonnes to 16,000 tonnes of zinc in concentrate was suspended in December 2008………………………………….Full Article: Source

Posted on 22 December 2009 by VRS |  Email |Print

From Commodityonline.com: The base metals have started the week strongly, albeit rallying on the back of thin volumes. Copper appears to have led the way, boosted buy some overnight buying interest, with the rest of the metals following suit.
With little in the way of significant economic data due out today, and with the metals ignoring the dollar, technical signals will likely dominate price direction across the base metals complex………………………………….Full Article: Source

Posted on 22 December 2009 by VRS |  Email |Print

From Etaiwannews.com: Crude oil fell below $73 a barrel Monday ahead of an OPEC meeting where investors expect the cartel to keep production levels unchanged.

By late afternoon, benchmark crude for January delivery, which expires later Monday, fell 95 cents to $72.41 per barrel on the New York Mercantile Exchange. Crude for February delivery fell 76 cents to $73.66 a barrel………………………………….Full Article: Source

Posted on 22 December 2009 by VRS |  Email |Print

From Accountancyage.com: A PricewaterhouseCoopers partner has warned that New York could challenge the UK for its title as carbon trading capital.

Carbon trading markets are worth an estimated £75bn since the launch of the EU Emissions Trading Scheme (ETS) in 2005………………………………….Full Article: Source

Posted on 22 December 2009 by VRS |  Email |Print

From Telegraph: The failure of last week’s climate change talks in Copenhagen has sent the price of carbon allowances to a six-month low, further hitting the credibility of the troubled trading system.
Prices on Monday on the ICE European Climate Exchange fell below €13 per tonne - higher than the trough of the recession, but far lower than the €30 seen last summer………………………………….Full Article: Source

Posted on 22 December 2009 by VRS |  Email |Print

From Nytimes.com: The U.N. secretary-general tried today to put a positive spin on a controversial accord that came out of climate change talks in Copenhagen last week.
Secretary-General Ban Ki-moon insisted that the Copenhagen Accord fulfills the parameters he had sought, even though the end result fell far short of even the most modest expectations voiced before the meeting………………………………….Full Article: Source

Posted on 22 December 2009 by VRS |  Email |Print

From Timesonline.co.uk: China is to blame for the poor progress made during the Copenhagen climate change talks, Ed Miliband said today.

In the most direct attack on the country to date, the Secretary of State for Energy and Climate Change accused China of hijacking the summit………………………………….Full Article: Source

Posted on 22 December 2009 by VRS |  Email |Print

From Reuters: U.S. lawmakers face an uphill battle enacting a climate bill in 2010 that includes a cap-and-trade market in greenhouse gases, after this month’s U.N. meeting in Copenhagen failed to hammer out a global pact on emissions cuts.

U.S. climate legislation remains likely as lawmakers feel pressure to help the country lead in production of low-carbon energy sources such as wind, solar and nuclear power………………………………….Full Article: Source

Posted on 22 December 2009 by VRS |  Email |Print

From Bloomberg: The Global Board of Trade Ltd., a company that operates multiasset exchanges, plans to set up a currency futures market in the Kenyan capital Nairobi next year.

“It will be offering a basket of commodities and currencies and is proposing to initiate trading in debt and equity products,” Joseph Hadrian Bosco, the board’s chief operating officer, said in an e-mailed statement today………………………………….Full Article: Source

Posted on 22 December 2009 by VRS |  Email |Print

From Xinhua: The dollar rose against most major currencies on Monday as U.S. stocks rose after the health care bill moved closer to passage.
The 871 billion dollars bill passed a key vote in Senate on Monday, lifting medical shares. Investors were also encouraged by a series of corporate merges………………………………….Full Article: Source

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