It would seem the world’s largest copper trader Glencore is in a tussle with the Chinese over position trades on the LME, a situation that in itself is little more than amusing — until you begin to look at the implications for copper consumers. Glencore, by their own admission when they floated last year, controls [...]
Although profit margins for US manufacturing corporations seem to have fallen off the past couple quarters after consistent rises since the aftermath of the Great Recession (seen above), the US manufacturing economy overall is still trucking. Going by one of the most prominent indicators across industries — the Institute for Supply Management’s PMI figure — [...]
The accepted wisdom for zinc this year has been that zinc remains at the marginal cost of production and significant falls in price would trigger capacity closures, a situation that will support the zinc price this year and next. Source: John Gross/The Copper Journal On the upside, high inventory (seen above) and a continuing surplus [...]
Like gold, the silver price has risen since the start of this year after hitting a one-year trough in December, leading some to suggest that silver is set for a rebound on the coattails of gold. Source: Kitco But while there has always been a link between the two, silver’s more lackluster performance of late [...]
Copper seems caught between the fear factor of Greek default and the prospects for Chinese physical demand. Copper prices have jumped 15 percent since the beginning of the year, but Chinese buyers have largely avoided the spot market. LME Spot Copper Price Source: LME As a result, the FT reports, stocks at Shanghai Futures Exchange [...]
In my earlier post, I ran through some of the supply factors that relate to the stainless market and offer clues as to price direction. Clearly, capacity utilization (and line re-starts) will negatively impact stainless pricing, but the raw materials equation remains a mixed bag. So perhaps we have a draw, or we can argue [...]
by Stuart Burns on February 9, 2012
Style: Commentary
Category: Global Trade, Inventory Stock Levels, Macroeconomics, Supply & Demand
Keywords: Brent, Canada, China, India, Iran, Natural Gas, North America, Oil, Saudi Arabia, WTI
Never, it would seem, has the oil market been in such a state of disarray. Brent crude, the global benchmark, hit US$117 per barrel this week for the first time since August. The spot price has been rising on concerns over where the showdown with Iran is leading. European consumers have begun to cut back [...]
The floodwaters may be slowly — agonizingly slowly — receding, but like ripples on a pond, the ramifications of Thailand’s recent floods are spreading around the globe and forward in time. According to Businessweek, at least 533 people have been killed since late July, when monsoon rains began lashing Thailand. Flooding worsened in October, when [...]
