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Commodities Briefing 05.Oct 2010

Posted on 05 October 2010 by VRS |  Email |Print

Jim RogersFrom Cnbc.com: The huge rally in gold is expected to continue—with $2,000 an ounce well within sight over the next decade, well-known commodities investor Jim Rogers said. Gold will be among the premier plays in commodities, which stand to benefit whether the economy rebounds or not, said Rogers, creator of the Rogers International Commodity Index.
“Gold is going to go a lot higher over the next decade. It may slow down for a while because it’s run up so dramatically here in the last few weeks. But gold’s going to be much higher,” Rogers said……………………………………….Full Article: Source

Posted on 05 October 2010 by VRS |  Email |Print

Rumi MasihFrom Telegraph: Wheat, sugar, cotton and gold are arousing interest from investors across the globe. It wasn’t so long ago that investors were extolling the virtues of hedge funds, private equity, currency swaps and infrastructure. But these newfangled alternatives have been knocked off their perch by investments that were being traded by City gents wearing tails and top hats more than a century ago.
Wheat, sugar, cotton and perhaps the oldest of all investments, gold, are grabbing the headlines and generating interest from sophisticated investors across the globe. The reason is rising prices……………………………………….Full Article: Source

Posted on 05 October 2010 by VRS |  Email |Print

From Wallstreetpit.com: Every week roughly 1 million people are born in or migrate to cities in emerging markets all over the world. By 2030, the global urban population is expected to grow by 1.6 billion people and account for 60 percent of all people on Earth, according to the United Nations.
With more people to feed, house, transport and keep warm, many emerging market metropolitan areas are buckling under the pressure. A month-long traffic jam near Beijing caught worldwide attention in August. According to Merrill Lynch, the daily commute for an average office worker in China is twice as long as it is in the U.S……………………………………….Full Article: Source

Posted on 05 October 2010 by VRS |  Email |Print

From Japantimes.co.jp: Latin American history is littered with tales of commodity booms gone bust like Potosi’s. That the quick riches never seem to produce lasting wealth has led some to conclude that the region, like other resource-rich regions, is under a “natural resource curse.”
But for Latin America, where 93 percent of the population and 97 percent of economic activity is in countries that are net commodity exporters, the hex is far from universal. A team of World Bank economists and political scientists this year has found some important trends that suggest today’s commodity booms will not end like the old……………………………………….Full Article: Source

Posted on 05 October 2010 by VRS |  Email |Print

From Marketwatch.com: Commodities have enjoyed a big run lately, but I believe they can go much further. Why are commodities going higher? Here are three reasons: 1: Demand from emerging markets - China’s economy isn’t slowing down as many analysts expected.
In fact, it’s speeding up. For example, China’s industrial production gained 13.9% in August from a year earlier, blowing away estimates. That’s boosting the prices of copper, zinc, lead and aluminum……………………………………….Full Article: Source

Posted on 05 October 2010 by VRS |  Email |Print

From BBC: Global steel demand is expected to hit all-time highs next year, rising above levels last seen before the global economic crisis, a trade body has said. The World Steel Association predicts world demand will rise 5.3% in 2011 to reach 1.34 billion tonnes, the highest amount since the first half of 2008.
It said continuing steel demand was being led by China, but that Europe was also consuming high volumes of steel……………………………………….Full Article: Source

Posted on 05 October 2010 by VRS |  Email |Print

From Mineweb.co.za: Macquarie Bank’s China Commodities reserach team has come back from two major specialised conferences last week with the feeling that short term prospects for nickel remain bullish, but as new supply ramps up, the medium term outlook is perhaps not so favourable. On iron ore, the Macquarie analysts felt that the immediate outlook remained positive.
Given the slow ramp-up of new nickel projects coming next year and the strong recovery of stainless steel production worldwide, especially in the Asia market, near term prospects for the alloying metal remain positive, but there are serious concerns about the substantial rise in nickel supply from the western world from 2H11 onwards……………………………………….Full Article: Source

Posted on 05 October 2010 by VRS |  Email |Print

From Proactiveinvestors.co.uk: Gold prices and gold companies have barely been out of the headlines as the yellow metal continuously hits all time highs, yet it’s not the best performing commodity out there.
In a note to clients Nomura Securities’ chief strategist Sean Darby examined the intriguing Rare Earth story, which has seen China’s protectionist stance on exports drive a 300% surge in metal prices……………………………………….Full Article: Source

Posted on 05 October 2010 by VRS |  Email |Print

From AP: China’s recent halt of exotic metal shipments to Japan amid a diplomatic spat has reverberated throughout the world’s high-tech manufacturing hubs — now on heightened alert to the risks of relying on one country for materials that do everything from helping hybrid engines run to creating the color red in televisions.
Governments as far afield as Washington and Seoul are asking: What happens if China cuts off our supply too?………………………………………Full Article: Source

Posted on 05 October 2010 by VRS |  Email |Print

From Thestreet.com: Spot gold prices were dipping in the red Monday afternoon due to profit taking, which kicked in after the yellow metal hit about $1,320 on Friday. “People saw it all weekend long,” EverBank president Chuck Butler said of the Friday price level. This profit taking “just makes a lot of sense.”
According to a coin dealer Butler spoke to recently, there’s been an increase in individual selling of gold recently to pay bills — electricity bills for instance. Butler noted that this selling is sparse compared to the panic selling seen a several years ago, when gold tumbled from $1,000 to $900 to $800……………………………………….Full Article: Source

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From Businessweek.com: Iraq oil minister has raises the estimate of the country’s proven oil reserves to 143.1 billion barrels, an increase of almost 25 percent. The increase announced Monday by Hussain al-Shahristani means Iraq is now home to the world’s second largest proven reserves of conventional crude oil.
OPEC kingpin Saudi Arabia holds the top spot, with about 264.6 billion barrels of crude, according to the latest edition of the BP Statistical Energy Review……………………………………….Full Article: Source

Posted on 05 October 2010 by VRS |  Email |Print

From Reuters: Iraq said on Monday that a rise in its oil reserves figures would help it get a higher export quota from OPEC as it seeks to raise crude exports to reflect the increase.
“The new proved reserves figure will entrench Iraq’s position at OPEC and in the future help it get a higher export quota in OPEC,” Falah al-Amri, head of Iraq’s State Oil Marketing Organisation, told reporters……………………………………….Full Article: Source

Posted on 05 October 2010 by VRS |  Email |Print

From Hardassetsinvestor.com: Don’t let current natural gas prices spook you. In this market, the most important word to remember is “seasonality.” This time of year, we expect to see the price of natural gas hit seasonal lows, as demand falls along with temperatures.
With less natural gas needed to augment the electricity production spikes we tend to see during the heat of summer, more natural gas moves into storage, ready to meet cold-weather heating needs when winter comes……………………………………….Full Article: Source

Posted on 05 October 2010 by VRS |  Email |Print

From WSJ: About $819 billion was invested in U.S. exchange-traded funds at the end of August. Was any of your money there? If not, you may be wondering if you’re missing out.
ETFs are mutual-fund hybrids that usually track indexes, just as traditional index funds do, yet they’re often cheaper and more tax efficient than some index funds. And they offer investors flexibility and access to more market sectors. But ETFs also come with a few twists that may tie you up……………………………………….Full Article: Source

Posted on 05 October 2010 by VRS |  Email |Print

From Ifaonline.co.uk: The UK Sustainable Investment Forum (UKSIF) is predicting growing demand for sustainable ETFs. This is a key conclusion in the report The Future of Investment: Sustainable Index Investing, released by UKSIF.
The report finds that institutional and high net worth investors are “increasingly looking at sustainable indexes for both products and performance measurement.”………………………………………Full Article: Source

Posted on 05 October 2010 by VRS |  Email |Print

From CNNMoney.com: In case you haven’t heard, gold has been on a record-breaking run recently. Want to get in on the action? Try an ETF. Instead of buying gold bars or coins and worrying about expensive security and storage issues, an increasing number of investors — both individual and institutional — are buying shares of gold-related exchange-traded funds, or ETFs.
ETFs are securities that track an index, commodity or a basket of assets and trade on an exchange, similar to stocks……………………………………….Full Article: Source

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From Channelnewsasia.com: Asia looks set to become a price setter in the derivatives market, and experts have said that the increase in derivatives trading volume in the region can help achieve this.
Asian trading volumes in the derivatives market have seen strong growth in the last six months……………………………………….Full Article: Source

Posted on 05 October 2010 by VRS |  Email |Print

From Reuters: The German government said on Monday it has set up a commodity advisory agency to assist companies find raw materials supplies.
The Federal Institute for Geosciences and Natural Resources, part of the Economy Ministry, said it would operate the agency which would be specially aimed at helping small and medium sized companies to find sufficient raw materials……………………………………….Full Article: Source

Posted on 05 October 2010 by VRS |  Email |Print

From Telegraph: The world’s major economic powers must do more to head off the prospect of a global currency war, a body representing the world’s financial institutions has warned.
The call from the Institute of International Finance (IIF) comes as finance ministers and central bankers prepare to descend on Washington DC for the annual meeting of the World Bank and International Monetary Fund against a backdrop of rising tensions over foreign-exchange policy……………………………………….Full Article: Source

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From Bloomberg: World Bank President Robert Zoellick said he sees tensions arising from currency devaluations as nations seek to buoy their economies, though he doesn’t expect them to turn into “wars.”
“I don’t foresee that we’re moving into an era of currency wars but there’s clearly going to be tensions, particularly if you have countries that have trade or current-account surpluses that are intervening to keep their currencies at lower rates,” Zoellick said on a conference call with journalists today……………………………………….Full Article: Source

Posted on 05 October 2010 by VRS |  Email |Print

From Theaustralian.com.au: The European Union in general and France in particular have been trying to erect trade barriers behind global warming for years. EU countries have no low-cost coal and hence no low-cost energy. In fact, they subsidise their remaining inefficient coal mines due to the power of the mining unions.
If they can get the US, Australia and other low-cost coal producers to impose a carbon tax on themselves, EU exports will become more competitive……………………………………….Full Article: Source

Posted on 05 October 2010 by VRS |  Email |Print

From Indiainfoline.com: China’s efforts to begin domestic carbon trading programs during its 12th Five Year Plan period (2011 2015) remained premature according to country s National Development and Reform Commission (NDRC). According to NDRC the country has yet to take on quantitative caps on emissions.
Thus there is no basis for carbon emission rights trading in China right now Why the volatility in spices complex? Get to know the latest trends in India spot and futures market with insightful analysis. ………………………………………Full Article: Source

Posted on 05 October 2010 by VRS |  Email |Print

From Nzherald.co.nz: Prices for export commodities rebounded last month, reversing three months of declines. The 2.9 per cent rise took the ANZ commodity price index back to within 1 per cent of its all-time high in May.
In New Zealand dollar terms the rise was a more modest 1.2 per cent as the exchange rate strengthened against most trading partners, Australia the notable exception……………………………………….Full Article: Source

Posted on 05 October 2010 by VRS |  Email |Print

From Bloomberg: Russia’s wheat production may plunge by 33 percent this year after the most-severe drought in 50 years harmed crops, a U.S. Department of Agriculture unit said.
Output will fall to 41.5 million metric tons in the year that began July 1 from 61.7 million tons last year, the USDA’s Foreign Agricultural Service said in a report posted today on its website……………………………………….Full Article: Source

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