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153 Posts, Pagina: « 1 2 3 4 5 6 7 8 | Laatste
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maurice73
0
Invest with Sven Carlin, Ph.D.

The Long-Term Copper Investment Thesis! Over the next decade I think those that own copper related assets will do extremely well.

www.youtube.com/watch?v=2WXkUtn5PeI
voda
0
Import of Refined Copper Cost India USD 2.5 Billion - IFC Report

A report titled 'Economic and Social Impact of Vedanta' published by the Institute for Competitiveness has estimated that the closure of Sterlite's Copper unit in Tuticorin, Tamil Nadu may have cost India around USD 2.5 billion in the form of increased import of refined copper, reports Money Control. The plant owned by Vedanta was shut down in May 2018 on government order after 13 people had been killed in police firing while protesting against the functioning of the plant, alleging massive pollution caused by it.

The report has also pointed out that the overall induced impact of the Vedanta Group stands at approximately 2.2% of the Gross Domestic Product which is close to INR 3.74 lakh crore.

The report, while estimating the cost incurred by India because of imported refined copper, took into account the Tuticorin plant's production figures from FY18 which stood at 403-kilo tonne, and used the global copper prices which presently hover around USD 6,200 to USD 6,300 per tonne.

Source : Swarajyamag com
voda
0
Chinese Copper Scrap Imports in July Down by 35%

SMM reported that about 97,822 tonne of copper was imported to China in the form of copper scrap in July, the first month after restrictions on Category Six scrap imports took effect. This was down 34.92% from June and 11.14% from July 2018. China’s imports of copper scrap dropped 45.11% year on year to 127,529 tonne in July, with an average copper grade of 76.71%.

Copper scrap imports in the first seven months of 2019 contained 829,682 tonne of copper, up 12.76%, or 94,000 tonne from the same period a year earlier.

SMM

news.metal.com/newscontent/100974673/...

Source : SMM
voda
0
Peru's Copper Output to Surge 27% by 2022 – Minister

Reuters quoted Peru Energy and Mines Minister Mr Francisco Ismodes as saying that Peru expects its copper production to grow 27% and gold output to expand 12% in the next three years by 2022. Peru is on track to produce 2.5-million tonnes of copper this year, up slightly from last year's 2.44-million tonnes. Copper production has surged 77% in the past four years.

Mr Ismodes said that "This has been our best year yet for copper production.”

Peru is the world's No.2 copper producer and sixth-largest gold producer.

Source : Reuters
voda
0
Pan Pacific Sees Global Copper Shortage Shrinking in 2020

Reuters reported that Japan’s top copper smelter Pan Pacific Copper expects a global shortage in copper to be less acute next year as top consumer China’s output increases and its demand growth softens amid the prolonged US-Sino trade row. Mr Naoki Kojima, GM marketing of PPC, which is also a miner and is controlled by JXTG Holdings, told Reuters that PPC projects the global consumption and supply of refined copper to climb by 1.5% and 1.7% respectively in 2020 compared with this year. He said that “China’s demand will continue to grow next year, but at a slower pace than this year and than we had expected last year citing weaker industrial demand for the metal, widely used in power and construction. Still, Beijing’s economic stimulus, such as hefty spending in infrastructure and deregulation to bolster car purchases, will support metal demand.”

Mr Kojima expects its term premiums to China next year to come near this year’s USD 86 a tonne. The world’s top copper producer, Codelco, set its 2019 term premiums to China at USD 88 a tonne. He said that “Since the spot premium market was weaker early this year, we expect tough negotiations ahead. But with a boost from China’s stimulus in mind, we want to negotiate in a range near the current level for 2020.”

China’s new smelting capacity, meanwhile, will help bolster global output, but the shutdown of the Indian company Vedanta’s smelter and tighter concentrate supply will limit the gain, he said, forecasting a shortage of 38,000 tonnes worldwide in 2020, compared with 89,000 tonnes this year.
Source : Reuters
voda
0
ZCM Annual copper production to Reach 850,000 tonnes

With consistent power supply to the mines, Zambia Chamber of Mines envisages annual copper production to go to around 850,000 metric tonnes this year. ZCM chief executive officer Sokwani Chilembo said the mining sector is poised to meet its 2019 production estimates as a result of maintained electricity supply to the mines amidst daily eight-hour countrywide load-shedding.

Mr Chilembo said if the mines were to be included in the load-shedding schedule, copper production would drop to 700, 000 tonnes this year that would have been too huge a reduction.
Source : Daily MailZCM Annual copper production to Reach 850,000 tonnes
Metal News - Published on Wed, 25 Sep 2019
Image Source: daily-mail.co.zm
With consistent power supply to the mines, Zambia Chamber of Mines envisages annual copper production to go to around 850,000 metric tonnes this year. ZCM chief executive officer Sokwani Chilembo said the mining sector is poised to meet its 2019 production estimates as a result of maintained electricity supply to the mines amidst daily eight-hour countrywide load-shedding.

Mr Chilembo said if the mines were to be included in the load-shedding schedule, copper production would drop to 700, 000 tonnes this year that would have been too huge a reduction.

Source : Daily Mail
voda
0
First Quantum Respond to Media Report on sale of minority stake in Zambian copper assets

First Quantum Minerals Ltd is aware of speculation regarding a potential transaction involving Jiangxi Copper Co Ltd. The Company confirms that discussions regarding a potential sale of a minority interest in First Quantum’s Zambian copper assets have occurred and are continuing. No transaction has been agreed upon and there is no guarantee that a transaction will be achieved.

There has also been speculation of a takeover bid. First Quantum has not engaged in any discussions regarding a take-over bid or other change of control transaction and has no knowledge of potential take-over bids, change of control transactions or proposals.

The Company will update the market as warranted.

Source : Strategic Research Institute
voda
0
Indian increased Refined Copper Import in FY 20 – Care Rating

According to CARE Ratings, a demand-supply mismatch in domestic copper market will make India a net importer of refined copper in 2019-20 (FY20). India has emerged as an importer of copper ore and concentrates and imports more than 90% of our concentrate requirements due to the lack of copper mines present in the country. Imports of copper ore and concentrates fell by 44.6% during FY19 due to the lack of requirement from the Tuticorin smelter.

India used to be a net exporter of copper cathodes till FY18. Now with the closure of the Tuticorin smelter, the drop in domestic production has led to the domino effect of increasing the country's imports and decreasing its exports. India has become a net importer of refined copper after 18 years.

During FY19, exports had fallen by 87.4%, (during FY18 exports had increased by 12.3%) whereas imports increased by 131.2% (during FY18 imports had increased by 35.6%).

India imported refined copper from, Japan (71%), Congo (6%), Singapore (5%), Chile (4%), Tanzania (4%), UAE (4%) and South Africa (3%) and exported refined copper to China (75%), Taiwan (13%), Malaysia (5%), South Korea (5%) and Bangladesh (2%) during FY19. Share of exports towards China has increased, from it being 63% during FY18 to 75% during FY19 and share of imports from Japan has increased from it being 68% during FY18 to 71% during FY19.

Source : Strategic Research Institute
Bijlage:
voda
0
Copper Prices Falling due to Low Industrial Activity – Australian Government

Australian Government’s Resources and Energy Quarterly September 2019 said that lower industrial activity weights on copper prices. After falling in the first half of the year, copper prices continued to show weakness in the September quarter. Reduced industrial activity in China and concerns around world economic growth weighed on prices, which reached a low of USD 5,585 a tonne at the start of September. Concerns about expanding US tariffs put further pressure on prices. The copper price averaged USD 5,858 a tonne in the September quarter. 4.0% lower year on year. Prices are expected to stabilize and turn around over the outlook period, as production constraints contribute to an ongoing deficit in world copper markets. Higher consumption, supported by stimulus spending, is expected to promote modest price growth over the outlook period, although at a slower pace than previously expected. Prices are forecast to grow at an average annual rate of 5.6% over the outlook period, to average USD 6,620 a tonne in 2021. The market outlook faces competing risks; strong consumption growth could support price increases, but the expectations and economic impacts of trade tensions pose a negative risk to copper prices.

Consumption expected to grow despite economic constraints Reduced industrial activity in China and the negative impact of US-China trade tensions has weighed on world copper consumption in recent quarters. Consumption in the first half of 2019 was 11 million tonnes, 1.5% lower than the same period in 2018 .

Copper consumption is expected to rebound and see relatively strong growth over the outlook period, although at a slower pace than previously forecast. World copper consumption is forecast to increase at an average annual rate of 2.3% over the outlook period, to reach 25 million tonnes in 2021.

This forecast is heavily dependent on the level of industrial activity in China, which accounts for around half of world refined copper consumption. Although China’s imports of refined copper hare stagnated in the first half of 2019, healthy growth in domestic consumption has remained. Government spending is expected to help maintain consumption growth, through infrastructure spending and investment in electricity generation. Expanding electric vehicle manufacturing and surging growth in renewable energy production is also expected to support further growth. Over the outlook period, China's copper consumption is forecast to grow an average 1.6% a year, to reach 13 million tonnes in 2021.

Consumption growth will also be supported by expanding markets outside of China. Countries such as India and Vietnam, which currently account for just 2.0 and 1.3% of world consumption respectively, are expected to see annual consumption growth of 5 to 7% over the outlook period.

Despite these constraints, copper production is expected to grow by 3.7% over the outlook period, to reach just under 24 million tonnes in 2021, up from 21 million tonnes in 2018. Around 1 million tonnes of new production capacity is expected to come online by the end of 2021. The largest of these is the Cobre Panama mine in Peru, which has an annual capacity of 340,000 tonnes. The mine started operations in February, and is expected to reach full capacity by the end of the year, with a potential expansion beyond the outlook period.

Voor cijfers, zie pdf.

Source : Strategic Research Institute
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voda
0
S&P Global Ratings forecasts USD 6000 Price for Copper

S&P Global Ratings said that demand for copper is likely to remain under pressure over the next couple of years, against the backdrop of ongoing trade tensions between the US and China. Mr Simon Redmond at S&P Global Ratings said “We’ve revised down our assumptions for copper, given demand softness in the context of faltering global economic growth. Political and trade tensions are hitting investment plans and confidence, this is in spite of likely supply deficits for copper in the coming years. Gold, on the other hand, is benefiting from both these trade uncertainties and the ‘lower for longer’ expectations for interest rates.”

S&P Global Ratings forecasts the copper price to average around USD 6,000 per tonne for the rest of 2019 and 2020, and USD 6,100 per tonne in 2021.

Source : Strategic Research Institute
voda
0
Chinese Copper Imports in September up by 10%

General Administration of Customs data showed that China’s of unwrought copper, including anode, refined and semi-finished copper products copper imports in September rose by 10.15% MoM to 445,000 tonnes but down 14.6% from a bumper 521,000 tonnes in September last year, which was the highest monthly total since March 2016.

Mr Yang Changhua, copper analyst with research house Antaike said that “The comparison between Shanghai and London prices provided more favourable conditions for copper imports, adding that demand for unwrought copper also increased as copper scrap supplies fell recently.

Source : Strategic Research Institute
voda
0
Rio Tinto Q3 Copper production Update

Rio Tinto Kennecott - Third quarter mined copper production was 2% lower than the same period of 2018, but 40% higher than the previous quarter, as mining activity moved to an area of higher grades following the low grades experienced in the second quarter. Refined copper production was lower than comparable prior periods, reflecting reduced copper concentrate availability from the previous quarter, a planned smelter shut-down in July and additional unplanned maintenance which reduced furnace online time. Rio Tinto Kennecott continues to toll and purchase third party concentrate to optimise smelter utilisation, with 11.9 thousand tonnes of concentrate received for processing in the third quarter of 2019, compared with 6.3 thousand tonnes in the third quarter of 2018. Purchased and tolled copper concentrate are excluded from reported production figures. Higher molybdenum grades were sustained in the third quarter, with production of 2.1 thousand tonnes, compared with 1.4 thousand tonnes in the same quarter in 2018.

Escondida - Third quarter mined copper production at Escondida was 4% higher than the same period of 2018, mainly due to higher concentrator throughput and an increase in recoverable copper in ore stacked for leaching.

Oyu Tolgoi - Mined copper production from the open pit in the third quarter of 2019 was 28% lower than the same period in 2018 and 27% lower than the prior quarter as mining activity moved to lower grade areas of the pit, as planned.

Oyu Tolgoi Underground Project - Commissioning milestones for the primary production shaft (shaft 2) remain on target for completion in October. Rope-up of the service and production hoists was completed as planned, and testing of the braking system has also been completed. Since July 2019, we have also completed key infrastructure, including the central heating plant, the shaft 2 jaw crusher system and the surface discharge conveyor.

Resolution Copper - On 9 August 2019, Rio Tinto announced that the Resolution Copper project in the US had achieved a major permitting milestone with the release of an independently prepared Draft Environmental Impact Statement for the project. The rigorous review, conducted by the US Forest Service over a six year period, included broad public engagement.

Source : Strategic Research Institute
voda
0
Chinese Copper Smelters Hike TC/RC for Q4

Reuters, citing people with knowledge of the matter, reported that Chinese copper smelters have raised their fourth-quarter floor treatment and refining charges by 20% from the previous quarter. As per report, the China Smelters Purchase Team, at a meeting in Shanghai, set the treatment charge floor at USD 66 per tonne, and the refining charge floor at 6.6 cents a pound, up from USD 55 a tonne and 5.5 cents a pound in the third quarter, but still below the USD 90 a tonne and 9 cents a pound set for the fourth quarter of last year.

Copper miners pay TC/RCs to smelters to process their ore into refined metal. Higher charges indicate more abundant concentrate supply or that smelters have less need. The floor price agreed also serves as an indication of the position that smelters in China, the world’s top copper consumer, will take in negotiations on a TC/RC benchmark for 2020, used for longer-term deals.

Even as spot TC/RCs usually hike in the fourth quarter, a source at a large mining firm said he saw no fundamentals-based rationale behind the move, given recent supply disruptions and a decline in spot TC/RCs this year. He said “I don’t think they can buy a lot of tonnes of clean concentrate at that spot number.”

Source : Reuters
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