Teck resources (NYSE:TCK), Southern Copper (NYSE:SCCO) and Freeport-McMoRan Copper & Gold (NYSE:FCX) all performed strong on Thursday, as copper surged to its highest level in 10 weeks, and lead, aluminum, tin, nickel and zinc were all up on the LME.
On the Comex in New York, copper futures for September delivery increased by 7.15 cents to $3.1645 a pound, while on the London Metal Exchange, copper for three months delivery rose $150, to $7,010 a metric ton, or $3.18 a pound.
The U.S. dollar also plunged Thursday, helping metals prices increase.
Teck Resources ended the trading session Thursday at $35.07, gaining $1.56, or 4.66 percent. Volume was at 6,203,424, below the 3-month average.
Freeport finished the day at 68.78, gaining $2.72, or 4.12 percent. Trading volume came in at 18,854,144, a little above the 3-month average.
Southern Copper Corporation closed at $32.05 Thursday, increasing by $0.97, or 3.12 percent. volume was at 4,062,354, higher than the 3-month average of 3,219,460.
Showing posts with label Tin Prices. Show all posts
Showing posts with label Tin Prices. Show all posts
Friday, July 23, 2010
Thursday, May 27, 2010
Teck Resources (TSE:TCK-B) Rises with Metal Prices
Teck Resources (TSE:TCK-B) (NYSE:TCK) was up in Toronto and New York today as copper and other industrial metals all rose on news the U.S. economy may possibly continue growing, based on industrial demand.
Along with copper surging, other base metals increasing in price were aluminum, tin, lead, zinc and nickel.
All of this if fine, but I am still sceptical on the sustainability of all of this, and whether or not some temporary data comes out positive, like it just has, to massage those numbers of confirmation of a sustainable recovery is suspect at best.
Anyone announcing a sustainable recovery at this early stage is either incompetent or dishonest.
We have a long way to go with the European sovereign debt crisis and potential fallout from China fighting inflation before we can announce there is a recovery at all, let alone a sustainable one.
Along with copper surging, other base metals increasing in price were aluminum, tin, lead, zinc and nickel.
All of this if fine, but I am still sceptical on the sustainability of all of this, and whether or not some temporary data comes out positive, like it just has, to massage those numbers of confirmation of a sustainable recovery is suspect at best.
Anyone announcing a sustainable recovery at this early stage is either incompetent or dishonest.
We have a long way to go with the European sovereign debt crisis and potential fallout from China fighting inflation before we can announce there is a recovery at all, let alone a sustainable one.
Monday, May 17, 2010
Commodity Prices Plunge Today
Commodity prices today are down significantly, as industrial metals led the plunge, as concerns over demand from Europe and China hinder the market.
Fighting the debt in Europe and inflation in China has optimism in commodities shake for the first time in awhile, and some companies and countries are concerned over how much the possible drop in demand will have an effect upon them.
Metals like copper, tin, zinc, lead and aluminum are all down, as traders and investors look at the near-term for the metals, and whether or not the recently expected commodity demand is sustainable over the mid-term.
This also seems to have affected the price of oil and gas, as the question now is whether or not consumers will travel and spend as much with this weighing on their minds.
Fighting the debt in Europe and inflation in China has optimism in commodities shake for the first time in awhile, and some companies and countries are concerned over how much the possible drop in demand will have an effect upon them.
Metals like copper, tin, zinc, lead and aluminum are all down, as traders and investors look at the near-term for the metals, and whether or not the recently expected commodity demand is sustainable over the mid-term.
This also seems to have affected the price of oil and gas, as the question now is whether or not consumers will travel and spend as much with this weighing on their minds.
Monday, October 5, 2009
One Investor Corners Tin Market
Tin Market Turmoil
An unknown investor has boght up thousands of tons of tin last week, and has stored it in warehouses all over London. Reports are that basically the entire stocks of tin listed on the London Metals Exchange (LME) were acquired during the past week by that one buyer, who most assume is a hedge fund.
Some buyers of tin and other investors are whining about this, but the LME said the reason they are isn't because there's something wrong with the tin market, but because they guessed wrong as to the direction the prices would move, and it adds that they've been publishing the needed data to make informed decisions, so complaints are not legitimate.
AS far as the strategy of the mysterious tin buyer, they've either done it with the belief that the growing demand and acquisition of tin by Asian countries will continue to drive up prices, and so they bought the lot to take advantage of the real possibility, or an attempt to get some quick, short-term gains.
Although the secret tin investor has a dominant position at this time, and has a limited control of prices, they are playing a risky game that could backfire if they aren't careful. Sellers of tin are enjoying this period of time, but that will probably change some time soon, and there is some evidence that the tin buyer has already started selling its tin.
Tin demand is expected to rise to 320,000 tons this year, up from 300,000 last year.
Tin Prices Rising
An unknown investor has boght up thousands of tons of tin last week, and has stored it in warehouses all over London. Reports are that basically the entire stocks of tin listed on the London Metals Exchange (LME) were acquired during the past week by that one buyer, who most assume is a hedge fund.
Some buyers of tin and other investors are whining about this, but the LME said the reason they are isn't because there's something wrong with the tin market, but because they guessed wrong as to the direction the prices would move, and it adds that they've been publishing the needed data to make informed decisions, so complaints are not legitimate.
AS far as the strategy of the mysterious tin buyer, they've either done it with the belief that the growing demand and acquisition of tin by Asian countries will continue to drive up prices, and so they bought the lot to take advantage of the real possibility, or an attempt to get some quick, short-term gains.
Although the secret tin investor has a dominant position at this time, and has a limited control of prices, they are playing a risky game that could backfire if they aren't careful. Sellers of tin are enjoying this period of time, but that will probably change some time soon, and there is some evidence that the tin buyer has already started selling its tin.
Tin demand is expected to rise to 320,000 tons this year, up from 300,000 last year.
Tin Prices Rising
Wednesday, October 1, 2008
Processors of Raw Materials and Manufacturer Margins Under Pressure as Commodity Prices Surge
AMSTERDAM, Netherlands, Oct 01, 2008 /PRNewswire via COMTEX/ -- A report by Atradius, a leading global trade credit insurer, has found that manufacturers are bracing themselves for further price hikes in raw materials as vital commodities such as tin and copper suddenly become as highly prized as gold.
Between 2002 and 2006, for example, copper producers enjoyed a 560% price increase. This price inflation is largely due to China and other emerging economies developing huge appetites for industrial raw materials. In 2007, the Chinese economy accounted for 37% of global steel consumption. The U.S. share, by contrast, was only 10%.
With output and prices up, producing nations are taking advantage of their new-found market power. A number of commodity-rich countries are implementing policies that can restrict the supply of vital raw materials. China, Russia, Venezuela and Bolivia are named as particularly risky investment sites for this reason. Governments in these countries have implemented policies that restrict the free flow of materials driving prices even higher. Despite this, these emerging commodities markets are reaping most of the benefit from the growing demand. Europe's metals industries have seen dramatic declines in their share of world metals production output. The EU's share of aluminum output fell from 21% in 1982 to 9% in 2005, and its share of steel fell from 25% to 16%.
With raw materials prices at such high levels, raw materials processors' and manufacturers' margins are being squeezed because they are not able to pass the full cost of the increase on to consumers. Stefan Dunker, a manager at Atradius Risk Services comments, "We have not yet seen a wave of bankruptcies, but if there are further price increases, that could well happen."
In Germany, a recent report by the Federation of German Industries (BDI) showed that from 2002-2007, German industry had already been hit by euro 97 billion in higher direct raw materials costs. This has led to 148,000 job losses in German industry and a 0.5% reduction in the overall German GDP.
However, the outlook for commodities buyers is not all bad. Some manufacturers are taking a number of steps to avoid a direct impact from rising costs, such as stockpiling raw materials, investing in their own supply sources, decreasing their use of precious metals, and increasing the efficiency with which they use materials of all types. Innovation using alternative materials will also play its part in long-term demand of various raw materials. All these factors should help to moderate demand and reel in prices.
Isidoro Unda, CEO of Atradius, concluded: "Though the run-up in commodities prices has been sharp and severe, demand has traditionally been cyclical depending on demand for the products in which they are found. The convergence of a number of economic factors, including a looming U.S. recession, slowing growth in Europe, falling oil prices and tightening credit conditions, could combine to produce some relief in prices of some raw materials for both manufacturers and consumers. These changes, however, are generally slow to take hold, and declining prices may not be in the cards for a few years."
The Atradius Global Trade report Bedrocks of Prosperity can be downloaded free of charge from the Atradius website at: http://tinyurl.com/446tqk
About Atradius
The Atradius Group provides trade credit insurance, surety and collections services worldwide, and has a presence in 40 countries. Atradius aims to protect its customers against unexpected losses resulting from their buyers being unable to pay for the customer's products and services. With a 31% share of the global trade credit insurance market, its products contribute to the growth of companies throughout the world by protecting them from payment risks associated with selling products and services on credit. With 160 offices, it has access to credit information on 52 million companies worldwide and makes more than 22,000 trade credit limit decisions daily.
Further information:
Atradius Corporate Communications
Kathy Farley
Tel.: +1 410-246-5584
E-Mail: kathy.farley@atradius.com
Atradius.us
Ian Miller
Country Manager - Canada
Tel: +1 613-256-9134
E-Mail: ian.miller@atradius.com
Atradius.ca
Karel van Laack
Country Manager - Mexico
Tel: +011 52 55 5484 0026
E-Mail: karel.van.laack@atradius.com
Atradius/mx
SOURCE Atradius Group
Atradius.us
Copyright (C) 2008 PR Newswire. All rights reserved
Between 2002 and 2006, for example, copper producers enjoyed a 560% price increase. This price inflation is largely due to China and other emerging economies developing huge appetites for industrial raw materials. In 2007, the Chinese economy accounted for 37% of global steel consumption. The U.S. share, by contrast, was only 10%.
With output and prices up, producing nations are taking advantage of their new-found market power. A number of commodity-rich countries are implementing policies that can restrict the supply of vital raw materials. China, Russia, Venezuela and Bolivia are named as particularly risky investment sites for this reason. Governments in these countries have implemented policies that restrict the free flow of materials driving prices even higher. Despite this, these emerging commodities markets are reaping most of the benefit from the growing demand. Europe's metals industries have seen dramatic declines in their share of world metals production output. The EU's share of aluminum output fell from 21% in 1982 to 9% in 2005, and its share of steel fell from 25% to 16%.
With raw materials prices at such high levels, raw materials processors' and manufacturers' margins are being squeezed because they are not able to pass the full cost of the increase on to consumers. Stefan Dunker, a manager at Atradius Risk Services comments, "We have not yet seen a wave of bankruptcies, but if there are further price increases, that could well happen."
In Germany, a recent report by the Federation of German Industries (BDI) showed that from 2002-2007, German industry had already been hit by euro 97 billion in higher direct raw materials costs. This has led to 148,000 job losses in German industry and a 0.5% reduction in the overall German GDP.
However, the outlook for commodities buyers is not all bad. Some manufacturers are taking a number of steps to avoid a direct impact from rising costs, such as stockpiling raw materials, investing in their own supply sources, decreasing their use of precious metals, and increasing the efficiency with which they use materials of all types. Innovation using alternative materials will also play its part in long-term demand of various raw materials. All these factors should help to moderate demand and reel in prices.
Isidoro Unda, CEO of Atradius, concluded: "Though the run-up in commodities prices has been sharp and severe, demand has traditionally been cyclical depending on demand for the products in which they are found. The convergence of a number of economic factors, including a looming U.S. recession, slowing growth in Europe, falling oil prices and tightening credit conditions, could combine to produce some relief in prices of some raw materials for both manufacturers and consumers. These changes, however, are generally slow to take hold, and declining prices may not be in the cards for a few years."
The Atradius Global Trade report Bedrocks of Prosperity can be downloaded free of charge from the Atradius website at: http://tinyurl.com/446tqk
About Atradius
The Atradius Group provides trade credit insurance, surety and collections services worldwide, and has a presence in 40 countries. Atradius aims to protect its customers against unexpected losses resulting from their buyers being unable to pay for the customer's products and services. With a 31% share of the global trade credit insurance market, its products contribute to the growth of companies throughout the world by protecting them from payment risks associated with selling products and services on credit. With 160 offices, it has access to credit information on 52 million companies worldwide and makes more than 22,000 trade credit limit decisions daily.
Further information:
Atradius Corporate Communications
Kathy Farley
Tel.: +1 410-246-5584
E-Mail: kathy.farley@atradius.com
Atradius.us
Ian Miller
Country Manager - Canada
Tel: +1 613-256-9134
E-Mail: ian.miller@atradius.com
Atradius.ca
Karel van Laack
Country Manager - Mexico
Tel: +011 52 55 5484 0026
E-Mail: karel.van.laack@atradius.com
Atradius/mx
SOURCE Atradius Group
Atradius.us
Copyright (C) 2008 PR Newswire. All rights reserved
Tuesday, March 4, 2008
Investors take Profits on Base Metals
Base metals dropped today on the London Metal Exchange, as investors took profits, with the majority of the commodity markets participating in a sell-off.
A number of metals ended up at close to the record range before cutting back later in the session.
“Supply disruptions made the fundamentals for some metals (gold, platinum, aluminium and zinc) look much better, which combined with the poor equity, property market and corporate paper market, convinced funds to go into commodities,” said BNP Paribas analyst David Thurtell.
Tin reached a new high before dropping again, reaching $19,375 a ton before fears on what Indonesia's response in battling against illegal tin mining would affect the metal. It ended the day at $19,050, an increase of $100 over what it closed at yesterday.
With most of the world's tin exports coming out of Indonesia, MF Global analyst Edward Meir said, “Tin's fundamentals look solid to us.
“The bulk of the world's tin exports come from Indonesia, and so the complex has a good chunk of its eggs in only one basket.”
Most dealers believe the sell-off was long overdue, and a correction was needed. They also said that this will be a short-term event, and prices should continue on an upward climb. Even so, with many turning to commodities as an inflation hedge, some are starting to think some metals are reaching a potential bubble, and will have to be watched carefully.
Most say we can't overly react and read into the cutback, as metals overall should be strong for some time.
Some metals shedding some of their weight were nickel, which dropped by $405, to finish at $32,845; aluminum decreased by $23, to end at $3115 a ton; lead fell by $70 to come in at $3365 a ton; and zinc declined by $45 to finish the session at $2780.
A number of metals ended up at close to the record range before cutting back later in the session.
“Supply disruptions made the fundamentals for some metals (gold, platinum, aluminium and zinc) look much better, which combined with the poor equity, property market and corporate paper market, convinced funds to go into commodities,” said BNP Paribas analyst David Thurtell.
Tin reached a new high before dropping again, reaching $19,375 a ton before fears on what Indonesia's response in battling against illegal tin mining would affect the metal. It ended the day at $19,050, an increase of $100 over what it closed at yesterday.
With most of the world's tin exports coming out of Indonesia, MF Global analyst Edward Meir said, “Tin's fundamentals look solid to us.
“The bulk of the world's tin exports come from Indonesia, and so the complex has a good chunk of its eggs in only one basket.”
Most dealers believe the sell-off was long overdue, and a correction was needed. They also said that this will be a short-term event, and prices should continue on an upward climb. Even so, with many turning to commodities as an inflation hedge, some are starting to think some metals are reaching a potential bubble, and will have to be watched carefully.
Most say we can't overly react and read into the cutback, as metals overall should be strong for some time.
Some metals shedding some of their weight were nickel, which dropped by $405, to finish at $32,845; aluminum decreased by $23, to end at $3115 a ton; lead fell by $70 to come in at $3365 a ton; and zinc declined by $45 to finish the session at $2780.
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Sunday, March 2, 2008
Commodity Prices Continue to Rise and Break Records
Some of the commodity records and surge in prices during the last week.
Oil: $103.05 a barrel - All time high
Gold: $976.32 an ounce on Friday - All time high
Silver: $19.95 an ounce - 27-year high
Platinum: $2,150 an ounce - down from last weeks' record $2,206 an ounce
Palladium: Reached a six-year high of $585.50
Tin: Went as high as $18,900 a ton for 3-month delivery - the highest since 1989
Gold is expected to go past $1,000 an ounce, based on demand. Supply for platinum is also facing supply problems, as the issues in South Africa concerning power in the mining industry continues. A mining strike and accidents have also cut into supply. Palladium has also been affected by similar issues.
Tin supply has also been tight, based on problems in Indonesia, and so the continual rising prices there.
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